According to the newspaper, the Swedish Economic Crime Authority has launched an extensive criminal investigation in the wake of the bankruptcy of Oscar Engelbert’s real estate companies. Several bankruptcy trustees have reportedly filed complaints, suspecting criminal conduct related to the bankruptcies of Oscar Properties, his privately owned holding company Parkgate, and affiliated subsidiaries.

The suspicions concern, among other things, misconduct against creditors, accounting offenses, and double pledging of assets. A conviction could result in a prison sentence of up to four years.

“These are offenses carrying severe penalties. We can see that from the amounts involved,” public prosecutor Carl Asterius previously told Expressen.

Interrogations with Engelbert have already been conducted, according to the prosecutor, and Oscar Engelbert has now formally been notified of the suspicions against him, although it has not been specified in which cases crimes may have been committed.

“We have been expecting this and have been eager to present our side. It comes as no surprise,” commented Oscar Engelbert’s lawyer, Filip Rydin.

Oscar Engelbert denies any wrongdoing.