Report: 5 Ericsson Officials Accused of False Billing

STOCKHOLM (AFP)--Five officials in Sweden from telecommunications equipment maker Ericsson are suspected of defrauding several billion kronor, Swedish news agency TT reported Sunday.

The five suspects allegedly created false bills between 1998 and 1999 in order to escape fiscal controls.

If the appeals court judge, who is set to announce a verdict Thursday, pays heed to the prosecutor's accusations, the five could serve time in jail, TT reported.

Ericsson, which was not available for comment on Sunday, is said to have acknowleged as part of the investigation that errors in its billing system were possible.

However, the company said it had respected international commercial legislation, TT reported.

(END) Dow Jones Newswires

Posted to the site on 7th July 2008