Former Saab Execs Arrested on Accounting Charges

By: AP Email
By: AP Email

STOCKHOLM (AP) - A Swedish prosecutor says three former executives of automaker Saab Automobile AB have been arrested on accounting fraud charges.

Prosecutor Olof Sahlgren says the three are "suspected of aggravated attempts to avoid tax controls" by allegedly falsifying parts of Saab's accounts between 2010 and 2011 - a crime that carries a sentence of up to four years in prison.

Sahlgren wouldn't identify the three, who worked for Saab while it was owned by Dutch luxury car maker Spyker, which had bought the Swedish company off General Motors.

Saab filed for bankruptcy in December 2011 after Spyker failed to revive the lossmaking brand. The Hong Kong-owned company National Electric Vehicle Sweden then bought the carmaker, saying it plans to make electric cars under the Swedish brand.

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