Two companies belonging to a former BDX chief suspected of involvement in an extensive money laundering scheme have been declared bankrupt, according to reports from local Swedish newspapers. The Luleå District Court has simultaneously lifted a seizure order on nearly 30 million kronor that was previously placed on the companies, following a request from the bankruptcy administrator.
Bank funds totaling almost seven million kronor had been frozen in the former executive's companies. Investigation documents reportedly show that he had accounts with Swedbank. The companies were placed into liquidation on February 10 by the Swedish Companies Registration Office (Bolagsverket) after annual reports were not submitted.
The complete debt picture is not yet clear
Bankruptcy administrator Andreas Molander at Ackordscentralen in Umeå stated that it is too early to provide any prognosis about potential distributions to creditors. 'The complete debt picture is not yet clear,' Molander said. If the companies' assets prove to be greater than their debts when the bankruptcy is concluded, the owners could potentially receive any remaining funds.
The case is part of what has been described as an extensive chain of economic crimes involving the former BDX executive.