A date has been set for the verdict on the case involving Falcon Funds and Swedish pension savers.

As reported by Sak and Liv, following the conclusion of the main hearing thar ran between November and February, the verdict on the case is expected to be published by Stockholm District Court on April 7.

Four people have been prosecuted including the main subjects, Mark Bishop and Max Serwin (who used to be called Emil Amir Ingmanson). The maximum penalty that the prosecutor demanded for Serwin is eight years and for Bishop, seven years and nine months. However, the defence lawyers rejected all charges.

Serwin previously went on the run from a residence in the UK after a British court ruled he should be extradited to Sweden to face charges. He was found in Hungary weeks.

Ingmanson served as an introducer for the Maltese registered Falcon Funds, which was only available to private pension savers in Sweden, to the Swedish pensions authority.

Falcon Funds has said that its investment manager, Temple Asset Management, invested more than €10m in savers' cash in investment products owned by Ingmanson. It has since sued Ingmanson for damages after Sweden launched a criminal investigation into the pension provider.

As previously reported by Expressen, 22,000 pension savers were scammed from almost SEK 2bn (€195m) but the police has only been able to locate about SEK 1.2bn (€117m) of the assets. SEK 800m (€78m) is still missing, the Swedish pensions authority previously estimated.

Share Story: