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Electronics Production | June 30, 2010

Former CEO of TVAB asking for pardon

Bruno Falkvall, former CEO of Sweden-based TVAB (in Töcksfors), has petitioned for pardon. He is serving a 1½ year sentence for tax fraud and other offences.
Bruno Falkvall was sentenced in September 2005 to a prison sentence of 2 years for tax fraud. Additional to that he is not allowed to run his own company for 3 years. By the time the offences were discovered in 2003, Mr Falkvall had diverted SEK 5 million (around EUR 550’000 in 2003) from TVAB to a private bank account on the Isle of Man (between 1994 and 2000).

He had also failed to pay nearly SEK 2 million (around EUR 220’000 in 2003) in payroll taxes. Mr Falkvall appealed the ruling and the Court of Appeal reduced the prison term to 1 year and 6 months.

He has now petitioned for pardon, referring to severe heart problems as a reason. He also plans to apply for revision. Mr Falkvall believes that he was punished twice, as he also had to pay penalty tax, reports nwt.

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