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Electronics Production | May 29, 2008

Trial of former TVAB CEO deferred

The former Chief Executive at TVAB in Töcksfors, Sweden, Bruno Falkvall, which – in February 2005 – was sentenced to two years imprisonment for serious tax offences, will have to wait longer for his final court order.
The hearings at the Court of Appeal started on Wednesday, because he appealed against a court order of the District Court. However, judgement was adjourned again and postponed until the end of November.

At the beginning of 2003, the former Chief Executive at TVAB was charged with bribery and financial irregularities. TVAB went bankrupt and was subsequently taken over by new owners.

According to the court ruling of the Arvika District Court, Mr Falkvall received compensation for exchange rate differences from a contract manufacturer in Poland. This amounted to €600 000 (SEK 5.5 million) between 1994 and 2000.

Money was deposited in his private account at a bank on the Isle of Man. These payments relate to salary payments. However, no salary payments have been declared in the company's declarations. Taxes and duties on these amounts are estimated at around €180 000 (SEK 1.7 million).

Bruno Falkvall has not declared any income between 1995 and 2001. He would have needed to pay around €300 000 (SEK 3 million) in income taxes.

Bruno Falkvall has denied the allegations as well as the court order from the District Court. He was sentenced to two years imprisonment and disqualified from working in related industries for three years. However, the court ruling was adjourned due to difficulties in questioning witnesses in Poland.

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