Svea Court of Appeal to rule on appeal against Birgitte Bonnesen’s fraud acquittal in Stockholm

The case revolves around several statements made by Birgitte Bonnesen during her tenure as CEO of Swedbank from 2018 to 2019. Prosecutors argued that these statements misled the market, leading to charges of gross fraud or serious market manipulation, and disclosure of insider information. They sought a two-year prison sentence for Bonnesen. However, in January of the previous year, Stockholm District Court ruled that her statements were not specific enough to constitute a crime, resulting in her acquittal on all counts.

In February of last year, Chief Prosecutor Thomas Langrot announced plans to appeal the court’s decision. Today, the Svea Court of Appeal is expected to deliver its ruling. A reporter on-site noted that this case, often referred to as “the trial of the century,” has significant implications for business leaders, as it will clarify what they can and cannot say about their companies to journalists and major shareholders.

The prosecution is urging the Svea Court of Appeal to convict Bonnesen of gross fraud, with serious market manipulation as a secondary charge. Live coverage of the court’s announcement will be available, and a press conference is scheduled to follow the ruling.

Bonnesen was dismissed from Swedbank in 2019 amid allegations of money laundering activities in Estonia. However, today’s verdict pertains specifically to whether she misled stakeholders about the bank’s situation, for which she was charged with gross fraud and insider information disclosure. In 2023, she was acquitted of all charges.