Question surrounding Victor Muller's consultancy fees as Saab automobile craved money in the last minutes before bankruptcy
Friday, 24 May 2013
Question have continued to be asked seeking clarification about
where all the money within the Swedish automaker, Saab automobile went
to just a few months before the company went under. It is being claimed
that the last bastion of money that was left was signed over by the CEO
and Chairman, Victor Muller in a buzzard and controversial fashion
The Swedish business daily, Dagens Industri writes that the
agreement, which gave Victor Muller million in consulting fees, was
signed as late as two days before Saab Automobile filed for
reorganization. Victor Muller had also billed for a bonus that he was
not entitled to.
This means that as the company was struggling to get money to
survive, Muller was seeking ways of lining his pocket out of a
The Swedish paper adds that the criminal investigation of how Saab
Automobile, under Victor Muller span to its death and this role
in it rolls on. Chief prosecutor Olof Sahlgren expects to interrogate a
dozen other people. According to him, the payments recorded as external
consulting costs, were not correct.
Originally, there were also no written agreement on how much Victor
Muller had the right to be billed, or for what. Yet Saab still paid out
hundreds of thousands of Krona a month. In 2010, Skr4
million was paid to Victor Muller's company, writes Dagens
Only on 5 September 2011 was a formal agreement written. Victor
Muller was then left alone on the Saab Board. Two days later, the
company applied for reconstruction.
Payments were also characterized by major accounting deficiencies.
This, according to accountancy firm Grant Thornton, which was
commissioned by Saab's bankruptcy administrators to study in detail
certain areas, including payments to Victor Muller's company.
The auditors also notes that Victor Muller in April 2011 billed the
2010 bonus of Skr1.3 million. Saab was then was "under extreme
liquidity pressure." Moreover, he was not entitled to any bonus, as far
as Grant Thornton could see.
According to the firm, former CEO, Jan Åke Jonsson had approved the bonus invoice.
Based on the above the question and picture now emerging is weather Muller killed Saab automobile.
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