Sweden’s Supreme Court has decided not to give Allra’s representatives leave to appeal, following a judgment in the Court of Appeal which ruled against the company.
In July 2021, the Svea Court of Appeal sentenced representatives of the disgraced pension provider to imprisonment and to pay damages of approximately SEK 170m, with interest. The Supreme Court’s decision means that this judgment is upheld.
“We are happy that we have now received a legal answer that the judgment of the Court of Appeal is upheld. It helps us to gather strength in the important work we do to get back and return money that pensioners and pension savers have lost,” Swedish Pensions Agency director-general, Daniel Barr, said.
The case concerns events on the Swedish Pensions Agency's fund marketplace in 2012. In addition to imprisonment and damages of SEK 170 million, the Court of Appeal sentenced interest, which now amounts to just over SEK 130 million.
The Court of Appeal ruled that the crimes committed by Allra were serious, have caused financial damage to pension funds and abused the trust placed on it to manage pension savings.
According to the Swedish Pensions Agency, 100,000 pension savers have been affected by the scandal.
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