Tomas Bodström got 20 minutes to explain in the swedish tax founded state media, why he was not able to know what happend in the Allra company where he was a board member during the fraud.
The lawmakers in Sweden have a wide view of their mission. For example, if you buy a pizza from one specific pizza baker the cost is deductible from the tax. This is not the case yet, but if you invest your money in some special arrangements with the Swedish banks you don’t need to pay tax on the profit.
The name of those vehicles is “investeringssparkonto”. It is a common way for the social democratic party to put a number of words together to make a new word. Another invented word is “premiepensionssystem”, where all people in Sweden is forced by law to invest 2 percent of their income in some specific founds provided by the Swedish finance actors.
For a lot of years swedes had the possibility to invest for their retirement in specific founds. The money invested was deductible from the tax bill. What is common for this kind of tax laws is that some actors on the market got an advantage to the market of 10 million swedes. Another speciality with those laws is that you are not allowed to move the money you invested to any other financial actor.
The products provided within those specific tax arrangements use to be extremely expensive. The investor must pay a fee of 1,5-2% of the total invested amount irrespective of if the investment gives any profit or not. The vehicles provided use to be extremely underperforming compared to index.
In some cases, the investment actor fraudulently uses fake investments to enrich themselves. This have been exposed in the “Allra” » scandal recently. Close connections and kickbacks to the found manager from the company where the money was invested. The social democratic politician, and lawyer Tomas Bodström was a board member in Allra when this fraud occurred. But since he is a politician, he has the immunity that all politicians are by default innocent.
The board member in a company which goes bankrupt, will be personally responsible for the company’s tax liabilities. But if the company fraudulently steal 300 millions of the money Swedish people by law must invest for their retirement, the board member can get another well paid job within the social democratic hegemony. This is the doublethink we swedes are trained to handle. And actually, we are pretty good at it!
Remember the Swedish law is a product of 100 years of social democratic total dominance.