The CEO of Swedish betting firm Cherry AB is in jail after Sweden's Economic Crime Authority held him on suspicion of insider trading.
Company CEO Anders Holmgren is in jail after the EBM secured an arrest order as the agency investigates the allegations. Holmgren is accused of severe insider trading, as he moved shares before a positive fiscal report for the company. Holmgren took the reigns as CEO last year and has overseen various acquisitions by the firm.
If found guilty, Holmgren could face anywhere between six months and six years in prison. Cherry has installed Gunnar Lind as Acting CEO for the time being.
Casino Listings News will update this story as more developments arise.