Lazard Swedish managing director charged with aggravated bribery - reports

investmentweek.co.uk:

Prosecutors have asked for the district court to fine Lazard SKr1.5m (£108,000) because of Slettengren's high status at the firm.

Gustaf Slettengren, who worked for the firm's London office for 13 years before taking over Swedish operations in 2013, has been charged with aggravated bribery concerning a takeover deal in 2016, the FT reported.

Prosecutors alleged that Slettengren paid a €138,000 bribe in 2016 to Hans Ziegler, a board member of OC Oerlikon Corporation, in exchange for information regarding the sale of OC's vacuum business to engineering group Atlas Copco for €486m the previous year.

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«The crime is serious considering that the bribe is of a very significant value,» prosecutor Leif Görts wrote in a court filing.

«Gustaf Slettengren has, as managing director of the company, the authority to represent the company, make decisions on its behalf, and thus has a leading position.»

Prosecutors have asked for the district court to fine Lazard itself 1.5m Swedish Krona (£108,000) because of Slettengren's high status at the firm.

According to reports, Slettengren has denied all the allegations against him and Lazard stated it had «co-operated fully with the investigation, and we await the outcome of the individual's judicial proceeding».

Atlas Copco told the FT it could not comment on an ongoing case to which it was not a party.

Lazard declined to comment on Slettengren's case when contacted for additional comment.

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