Former Saab Automobile chiefs arrested for accounts fraud

Saab logo The three are "suspected of aggravated attempts to avoid tax controls".

Three former top executives from carmaker Saab Automobile have been arrested in Sweden on suspicion of accounting fraud.

The three are "suspected of aggravated attempts to avoid tax controls", according to Swedish prosecutor Olof Sahlgren.

Mr Sahlgren alleged that the trio falsified parts of Saab Automobile's accounts between 2010 and 2011.

The crimes carry potential prison sentences of up to four years.

The prosecutor did not identify the three, who worked for Saab Automobile during the period it was owned by Dutch luxury car maker Spyker.

Spyker bought the Swedish firm from General Motors in 2010. However, Spyker failed to reinvigorate the loss-making brand, and Saab Automobile filed for bankruptcy in December 2011.

The carmaker was then sold to National Electric Vehicle Sweden, a Hong Kong based firm, which is planning to make electric cars that carry the Saab badge.

Saab Automobile is not part of Saab Group, which makes fighter jets and other defence and security equipment.

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