Polygiene files criminal charges against former CEO for gross fraud and disloyalty to principal

Publish date: 20 Jul 2018

Polygiene, world-leading provider of odor control for textiles, is filing criminal charges against its former chief executive officer Christian von Uthmann, alleging gross fraud and disloyalty to principal. The company today filed its claim with Malmö police authorities and are awaiting a decision whether the authorities will open a preliminary investigation.

The board of directors and the senior management of Polygiene AB are filing charges against Christian von Uthmann, former CEO of the company, for serious fraud and breach of trust. Uthmann is suspected of exploiting his position and company resources for improper personal gain, estimated at more than half a million Swedish kronor between 2012 and 2017. These are the findings from an internal investigation that Polygiene conducted when Uthmann’s contract was terminated earlier this year. 

“There is strong evidence and the approach has been systematic. The board and senior management view this matter very seriously and, unfortunately, we see no alternative to filing charges. The matter has therefore been handed over to the relevant authorities who will decide on future actions,” says Ulrika Björk, CEO Polygiene. “We also want to reassure stakeholders that Polygiene is dealing with this past transgression and that it does not in any way affect the forward momentum that the company is experiencing today.”

This information is information that Polygiene AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation and Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set above, for publication on 20 July 2018 at 15.30 CET.