Small saver Ronny Jansson lost large sums in Aegirbio’s crash (see video) and reported the company’s auditor to the Auditors’ Inspection. “The company has caused great financial losses and great suffering to thousands of private investors,” he wrote in the report.
After an investigation, the auditor is now being warned for violating good auditing practice on two counts. This applies partly to the handling of a million loan, partly to the value of the company’s so-called goodwill. (See fact box.)
At the same time, one of Aegirbio’s former partner companies receives a different kind of blow.
Would finance purchase
In September 2021, the company Modelity was one of several that participated in a new issue that gave Aegirbio over 100 million to finance a high-profile purchase of a more established medtech company.
But Modelity was also a company around Aegirbio that could be linked to the large tangle of suspected VAT frauds in the billions class that is usually referred to as Sweden’s biggest fraud tangle, the mobile tangle.
The day after SVT revealed the connections, it was announced that Aegirbio’s giant purchase had been cancelled.
Self-examined
And now Modelity’s purchase of Aegirbio shares has had an aftermath: The Swedish Financial Supervisory Authority has decided that the company, which is now called Modelity under liquidation, must pay a special fee of one million for failing to report changes in the shareholding, something Modelity believed that not needed.
The business surrounding Aegirbio has been and is the subject of several reviews. Earlier this year, Aegirbio was fined a million by the stock exchange’s disciplinary board and is now being reviewed by the Financial Supervisory Authority.
SVT has sought the auditor and the companies involved.