Arrested in Cascais for fraudulent insolvency in Sweden

A 75-year-old foreign businessman was arrested in Cascais, Lisbon, by the Judicial Police, sought by Swedish authorities for suspected fraudulent insolvency. The businessman managed several companies in Sweden, one of which had debts exceeding 101 million Swedish crowns. Allegedly, in 2024, he sold shares of two subsidiaries that were already insolvent at a price below their actual value, causing a loss of around nine million euros to another company. He faces a potential six-year prison sentence in Sweden. Following his arrest, he was presented in court and is awaiting extradition in preventive detention.