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Ericsson execs tried for tax evasion

Posted: 29 Mar 2006     Print Version  Bookmark and Share

Keywords:Ericsson  tax evasion 

Six current and former executives at wireless equipment maker Ericsson have gone on trial on tax evasion charges, according to an Associated Press report.

The report was quoted as saying the defendants filed false invoices worth about Rs.2,079.75 crore ($470 million) in 1998-1999 to avoid paying taxes. Ericsson has since paid the taxes that were due, but prosecutor Lage Carlstrom said the company did so only after the investigation started, the report said.

All six defendants, including Ericsson's chief strategy officer, Torbjorn Nilsson, pleaded innocent.

EE Times

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