Sweden's National Prosecutor's Office has launched a preliminary investigation into suspected corruption offenses at pension fund Alecta, Stockholm, in relation to a real estate holding.
The preliminary investigation was initiated following a referral by Sweden's Financial Supervisory Authority for suspected corruption, according to a translation of a news release on the Aklagarmyndigheten website, published Nov. 23.
"I want to emphasize that a low level of suspicion is required to initiate a preliminary investigation," said Johan Lindmark, preliminary investigation manager, in the release. "The pension administrator Alecta has handed over the material that I have requested and we are now in an analysis phase which will be decisive for the further processing of the case."
A preliminary investigation will determine whether a crime has been committed, who — if so — should be suspected, and whether there is sufficient evidence for a prosecution.
Further information from the prosecutor's office will be provided in a news release as and when it is available. "The prosecutor has no further information to provide in the case at this time and is not available to the media," the release said.
The 1.2 trillion Swedish kronor ($110.2 billion) pension fund said on Nov. 16 that it had been referred to police over its 49 billion kronor holding in real estate firm Heimstaden Bostad.
An updated version of the statement noted that the prosecutor's office had started a preliminary investigation. "Alecta has handed over all the material requested by the prosecutor after the report was received and will continue to assist the preliminary investigation if desired," said Jan-Olof Jacke, Alecta chair, in a translation of the statement.
The FSA announced an investigation into the investment in September, considering whether the pension fund followed the relevant regulations. Alecta had engaged two law firms to assess its investment, with differing outcomes, which were passed on to the FSA.
A spokesperson for Alecta could not immediately be reached for comment.