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VALLEY BUSINESS | BUSINESS ROUNDUP

Sweden Links 14 to Insider Trades of Pinkerton's Stock

April 27, 1999|Reuters

Sweden's Finance Inspectorate said it has completed an inquiry into illegal trading of the shares of U.S. security firm Pinkerton's Inc., and concluded that 14 people were involved.

"Reports of these crimes will be turned over shortly to the economic crime authorities," the Finance Inspectorate said in a statement.

Westlake Village-based Pinkerton's--the second-largest U.S. security firm--was taken over by Sweden's Securitas on Feb. 22.

Finance Inspectorate investigator Peter Billinger told Reuters the investigation would now be turned over to Swedish police, and the Inspectorate would supply them with all the information it had gathered from interviewing people involved.

Billinger said the Inspectorate also would continue to help the U.S. Securities and Exchange Commission, which is carrying out a separate investigation into the affair, which looks set to be Sweden's biggest insider dealing case this decade.

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