Tuesday’s police raid on Nasdaq Inc.’s Swedish operations has resulted in a surveillance officer from the stock exchange being held in custody to avoid any further collusion or the destruction of evidence.
(Bloomberg) — Tuesday’s police raid on Nasdaq Inc.’s Swedish operations has resulted in a surveillance officer from the stock exchange being held in custody to avoid any further collusion or the destruction of evidence.
The Nasdaq employee is being held in a Stockholm police station along with two other people, according to prosecutor documents seen by Bloomberg News. A court will decide later today whether to grant an extension of the custody.
The surveillance officer is being held on suspicion of three separate counts of insider trading. If charged and found guilty, the person could face up to six years in prison under Swedish legislation covering financial crime.
Representatives for Nasdaq in Stockholm did not respond to two separate phone calls seeking comment.
The development comes three days after Sweden’s Economic Crime Authority conducted a round of questioning at Stockholm’s stock exchange as part of an ongoing inquiry into market abuse. The public prosecutor involved in the probe said that Nasdaq itself is not being investigated.
Read More: Police Raid Stockholm’s Stock Exchange in Market Abuse Probe
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