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Government probe halted Saab-Spyker deal

An investigation ordered by the Swedish government into the workings of Spyker and its Russian investors landed on the desk of the FBI and put a temporary stop to the Saab deal being reached.

A source close to the government told business daily Dagens Industri (DI) that Swedish security services (Säpo) were given the task of tracking the business interests of the Antonov family who were major investors in Spyker at the time.

The assignment was initiated by the Swedish National Debt Office (Riksgälden) which brought in private investigators to aid the mission.

Säpo is reported to have found connections between the Antonovs and organised crime as well as involvement in money laundering.

To prevent the Russians gaining any possible control over a new Saab-Spyker venture the government handed their findings over to the FBI.

The US government reacted quickly to the report and gave the board of General Motors a direct order to stop the deal, which happened on December 18th.

Hans Lindblad, state secretary at the Swedish Ministry of Finance, has confirmed the course of events to DI, stating that by bringing such information to light, the government were able to argue for a prolonged bidding process in December last year.

Lindblad told DI there is no longer a Russian connection. “The Antonov family is gone now and have no power position whatsoever in Saab Spyker,” he said.

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CARS

Former Swedish Saab bosses appear in court

Swedish car maker Saab's former CEO Jan Åke Jonsson and the firm's former head lawyer Kristina Geers have appeared in court in Vänersborg in west Sweden, accused of falsifying financial documents shortly before the company went bankrupt in 2011.

Former Swedish Saab bosses appear in court
Saab's former CEO Jan Åke Jonsson. Photo: Karin Olander/TT
The pair are accused of falsifying the paperwork at the height of the Swedish company's financial difficulties at the start of the decade.
 
A third person – who has not been named in the Swedish media – is accused of assisting them by issuing false invoices adding up to a total of 30 million kronor ($3.55m).
 
According to court documents, the charges relate to the firm's business in Ukraine and the paperwork in question was signed just before former CEO Jan Åke Jonsson resigned.
 
Both Jonsson and Saab's former head lawyer Kristina Geers have admitted signing the papers but denied knowledge of the Ukranian firm implicated in the case.
 
All three suspects deny all the charges against them.
 

Saab's former head lawyer Kristina Geers. Photo:  Björn Larsson Rosvall/TT
 
Saab filed for bankruptcy at the end of 2011, after teetering on the edge of collapse for nearly two years.
 
Chief prosecutor Olof Sahlgren told the court in Vänersborg on Wednesday that the alleged crimes took place in March 2011, when Saab was briefly owned by the Dutch company Spyker Cars.
  
It was eventually bought by National Electric Vehicle Sweden (Nevs), a Chinese-owned company after hundreds of staff lost their jobs.
 
The car maker, which is based in west Sweden, has struggled to resolve serious financial difficulties by attracting new investors since the takeover.
 
In October 2014 it announced it had axed 155 workers, close to a third of its workforce.
 
Since 2000, Saab automobile has had no connection with the defence and aeronautics firm with the same name. It only produces one model today, the electric 9-3 Aero Sedan, mainly targeting the Chinese market.