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The World

January 26, 1988

Swedish police officials said that Swiss banking secrecy has forced them to drop inquiries into an allegation that the weapons manufacturer Bofors paid bribes to secure a $1.4-billion deal with India in 1986. The investigation established that Bofors, a subsidiary of Nobel Industries, paid $53 million into the Swiss bank accounts of three foreign companies, Chief Police Prosecutor Lars Ringberg said. However, Swiss banking authorities have refused to disclose details about the account holders, making it impossible to discover their identities, he explained. The allegation, made last April by Swedish state radio, caused uproars in Sweden and in India, where opposition parties accused the government of corruption.

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