Anders Holmgren, chief executive of Cherry AB, has been arrested on suspicion of insider trading.
The Swedish Economic Crime Authority carried out a raid of Cherry’s offices yesterday (Tuesday) and the arrest took place shortly after.
Gunnar Lind, chairman of the audit committee at Cherry, will take on the role of acting chief executive while the investigation continues.
In a statement, Cherry said: “Cherry has been informed that the Swedish Economic Crime Authority has initiated an investigation for insider crime as a result of share trading by Cherry’s CEO, Anders Holmgren.
“Cherry will fully cooperate with the Economic Crime Authority in the investigation.”
Holmgren took on the role of chief executive at Cherry in February 2017 after serving in the position on an interim basis for more than a year following the departure of Fredrik Burvall.
Prior to this, Holmgren served in various executive roles for Betsson between 2000-2011.
Holmgren joined Cherry’s board in 2015, serving as a key adviser for the firm’s ongoing growth strategy.
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