- Aftonbladet, a daily newspaper in Stockholm, reported last Friday that a top manager at LeoVegas and two others were arrested the day before.
- “The profits are in the millions,” prosecutor Pontus Hamilton told the newspaper, according to a translation of its reporting.
- The pair reportedly do not have a direct connection to LeoVegas.
Authorities in Sweden have taken three people into custody on insider trading charges that shook MGM Resorts International’s effort over the summer to buy Stockholm-based LeoVegas AB.
Aftonbladet, a daily newspaper in Stockholm, reported last Friday that a top manager at LeoVegas and two others were arrested the day before. It was unclear if the arrests occurred at LeoVegas’ headquarters in the city, but the top executive was reportedly present at a June raid by authorities involved with the insider trading probe.
“The profits are in the millions,” prosecutor Pontus Hamilton told the newspaper, according to a translation of its reporting. He said the LeoVegas employee had information that would have affected the stock price, had it been made public.
The other two people arrested “have traded in this stock,” Hamilton said. The pair reportedly do not have a direct connection to LeoVegas.
An attorney representing the LeoVegas executive told the newspaper that his client “denies any wrongdoing and hopes that this misunderstanding will be cleared up soon.”
It was unclear if the investigation was continuing or if there would be any additional arrests.
