Cherry CEO arrested, and offices raided

Cherry CEO arrested over insider trading claimsReading Time: 1 minute

Stockholm-listed gaming operator Cheery AB’s chief executive Anders Holmgren has been under suspicion of insider trading.

Cheery has been informed by the Swedish Economic Crime Authority that an investigation into share trading by Holmgren has been launched.

During the yesterday morning, the Swedish Economic Crime Authority has performed a search at the head office of Cherry AB and in relation to this event, the company’s CEO, Anders Holmgren, was arrested. Cherry will fully cooperate with the Economic Crime Authority in the investigation. During the period of the investigation, Gunnar Lind, chairman of the Cherry Audit Committee, will be acting CEO of Cherry.

Gunnar Lind previously served as Cherry chief executive between 2004 and 2011.

Cherry AB shares (STO:CHER-B) were trading down 3.64 per cent at SEK66.20 per share in Stockholm following the announcement Tuesday afternoon.

Source: European Gaming Industry News

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.