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Swedish government drafts team of international law firms to defend $4.2bn corruption lawsuit

Christian Fernsby ▼ | May 29, 2020
Two Swedish government agencies have hired an exclusive international law firm to try to fend off accusations of their central involvement in a $150 billion money laundering scheme.
Victor Carlström
Financial broker   Victor Carlström
The Swedish Tax Authority and the Financial Supervisory Authority, along with the heads of those agencies have enlisted the global law firm White and Case to defend them in a $4.2 billion RICO lawsuit against them by Vinacossa Enterprises, among others.

Topics: Swedish

The parties face a June deadline to file initial motions in the case brought by whistleblower Victor Carlström, a financial broker who discovered gross financial malfeasance by many of Sweden's leading banks and government agencies. The case resides in the Southern District of New York.

Erik Thedéen, the Director General of the Swedish Financial Supervisory Authority, and Katrin Westling Palm, Director General of the Swedish Tax Agency, also retained White and Case to represent them in the lawsuit.

In addition, Swedish insurance giant Folksam has hired a team of lawyers from the law firm of Cravath Swaine and Moore. Jens Henriksson, the former Folksam CEO and current head of Swedbank in charge of cleaning up a separate money laundering scheme, has hired Quinn Emanuel Urquhart and Sullivan. Swedbank has also retained the same firm.

Since discovering widespread corruption, money laundering, bribery and other crimes in the Swedish financial system and government, Carlström has been forced to flee Sweden, first to Dubai, and then to the United States, where he has applied for asylum. There have been numerous death threats and attempts on his life as well. He currently switches locations several times a week.


 

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