Günther Mårder, one of Sweden’s most recognizable financial personalities, will remain in custody following a swift rejection of his appeal by the Court of Appeal on Monday. Mårder was detained last Friday on "probable cause"—the higher degree of suspicion under Swedish law—for his alleged involvement in gross insider trading.
The legal challenge, mounted by Mårder’s defense, argued that the District Court had erred in its initial assessment. His representation maintained that the grounds for keeping the high-profile executive behind bars while the investigation proceeds were legally insufficient, seeking an immediate release.
The appellate court’s decision to uphold the detention ensures that Mårder will remain in state custody as prosecutors continue their inquiry into the matter. The case has drawn significant attention within the Swedish business community, where Mårder has long been a fixture of financial commentary and corporate leadership.
With reporting from Breakit.
Source · Breakit
