Percy Nilsson and Dan Olofsson are charged with a serious insider crime in the high-profile plot around the real estate company Victoria Park in Malmö. The trial begins today in Stockholm District Court. In a press release, Olofsson defends his text message.
The mentioned sms from
Olofsson to Nilsson:
Hi, Percy. Will there be a bid for Victoria Park for SEK 38. Insider information that may be handled with care. I have accepted this offer but not the previous one from Starwood. “
The answer from Percy Nilsson was a text message with his thumbs up.
IT billionaire Dan Olofsson’s text message to Percy Nilsson on 18 May last year will be central for the prosecutor when the extensive trial in the so-called Victoria Park affair begins today in Stockholm District Court.
Shortly after Olofsson sent the text message to Percy Nilsson, one of Nilsson’s companies acquired shares in Victoria Park, writes DN.
The day after the announcement was made, Vonovia’s bid for the Victoria Park share was announced, rising 8.7 percent.
A total of 14 people are on trial on 27 counts.
Dan Olofsson himself believes that the text message is the only communication that exists between the two of them, he writes in a press release where his own company Danir acts as sender:
– Everyone can read this text message. No matter how you turn and twist the text message, it does not contain any call to Percy Nilsson to buy shares in Victoria Park without permission. On the contrary, I inform that it is inside information, and then everyone with experience knows that no trading may take place. The alleged crime has thus not been committed, he writes the press release.
– In the text message, I wanted to clarify that in the ongoing bidding process regarding Victoria Park, I had accepted one bid (Vonovias) but not the other (Starwoods). The text message was sent so that Percy Nilsson, who was also a shareholder in Victoria Park, would follow me in the footsteps and also accept Vonovia’s offer.
District Attorney Pontus Hamilton is, of course, of a different opinion:
– I mean that we have a good state of evidence. For the most part, insider cases are based on clues, the information is usually transmitted orally, but here are some messages that are troublesome for the defendants, Hamilton tells DN.
– The usual penalty is a fine and a suspended sentence. We have not decided yet, but in some cases that are serious, we will probably demand a prison sentence.