A Lazard Ltd. banker in Stockholm was charged by Swedish prosecutors over allegations of bribery linked to a deal struck by Atlas Copco AB.
(Bloomberg) — A Lazard Ltd. banker in Stockholm was charged by Swedish prosecutors over allegations of bribery linked to a deal struck by Atlas Copco AB.
The alleged bribe amounted to €138,000 ($149,800), according to the prosecutor Leif Gort who said that the crime is considered serious as it was “of a very significant value,” and “intentional.” Atlas Copo bought Switzerland-based OC Oerlikon Corporation AG for a total of €486 million.
The case relates to events when Lazard advised Atlas on the 2015 acquisition. The employee is accused of paying a board representative of OC Oerlikon to obtain information.
“The payment is improper” as it constituted compensation for board information provided to Lazard “to be used in connection with Lazard’s assignment to assist in a business acquisition which OC Oerlikon and the Lazard group were involved in as each other’s counterparts,” Gorts said in a court document.
The banker at the firm’s Stockholm office didn’t immediately reply to a request for comment. A Lazard representative couldn’t immediately comment on the charges.
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