Suvechha Sarkar
In late 1997, Thomas Julius Jisander, now known as Thomas Johansson, came under the spotlight when law enforcement began investigating the acquisition of the investment company, Trustor, in Stockholm, Sweden. It initially appeared to be a legitimate deal on paper, but soon unraveled into a complex financial scandal involving Thomas, his friends, business associates, and the alleged mastermind, Joachim Posener. The case is revisited in Netflix’s ‘Inside the Trustor Scandal’ and provides several in-depth interviews with Thomas, Joachim, and other former employees of Trustor at the time of the scandal.
Joachim Posener Allegedly Directed Thomas Jisander During the Trustor Deal
Thomas Julius Jisander was born in 1966 in Gothenburg, Sweden, and grew up in a middle-class neighborhood. After he graduated from high school, he completed his undergraduate degree. Eventually, he earned a Master’s Degree in Technology and another Master’s Degree in Economics. In Thomas’ statements on the show, he alleged that his maternal cousin, Joachim Posener, was in prison when he contacted Thomas to meet him. The former also claimed that upon meeting him, his cousin had asked him to join his plan to acquire a company. By February 1997, Joachim had been released from prison and settled in Thomas’ apartment, where the former allegedly directed him to form a team, as per Joachim’s statements.
Reports state that Thomas soon brought in his friend, Peter Mattsson, and another British businessman, Jonathan Guinness, AKA Lord Moyne, into the plan to acquire the investment company, Trustor. Lord Moyne agreed to become the face of the purchase of the business from its owner and majority A-shareholder, Per-Olov Norberg. The former also brought in his business partner, Lindsay Smallbone, into the acquisition scheme. According to Joachim’s statements, during the deal negotiations and meetings, he allegedly instructed Thomas. At the time of the signing of the deal, the group was given an additional 5 days to pay SEK 241 million to purchase Per-Olov’s shares.
Notably, Thomas and his team acquired control of Trustor’s cash reserves and a majority stake even before paying the agreed purchase price. Following that, Lindsay was appointed as the CEO and Managing Director. After the deal was signed, Thomas, Peter, Lindsay, and Lord Moyne reportedly created employee accounts in Barclays Bank in London, England. Following that, more than SEK 600 million from the company’s cash reserves was transferred to those accounts and again transferred from them to other bank accounts. Ultimately, in June 1997, Lord Moyne paid Per-Olov SEK 241 million for the shares.
Thomas Was Arrested For the Trustor Scandal After He Returned to Sweden
Things took a turn when a journalist became suspicious that Lord Moyne might not have sufficient funds to finance the purchase of Trustor, raising questions about how he had accomplished it. At the same time, law enforcement launched a preliminary investigation into the company. According to the show, during the investigation, officials noticed that over SEK 400 million was missing from Trustor’s cash reserves. In his statements, Joachim admitted that he had used several aliases, including Joe Falk, to sign the deal, which was later traced back to him.
During further searches, investigators discovered Joachim’s notebook, which allegedly contained sketches of the financial fraud’s plans. Ultimately, when Thomas and Peter returned to Stockholm on November 7, 1997, they were promptly arrested on suspicion of gross infidelity against a principal. On the other hand, by late 1997, Joachim had left Sweden and disappeared from public view. Soon after, he was wanted by Interpol, but the statute of limitations for the case expired in 2007. It is essential to note that Joachim has never faced any criminal charges related to the Trustor Scandal. Additionally, Lindsay was never prosecuted regarding the case.
Thomas is Seemingly Leading a Quiet Life in Monaco Away From the Spotlight
The trial of Thomas and Peter commenced at the Stockholm District Court in 2001. By June of that same year, they were convicted of gross infidelity against a principal. While Peter received a 3-year prison term, his co-defendant was sentenced to 5 years in prison. Thomas was also ordered to pay SEK 100 million in damages to Trustor. Lord Moyne was ultimately cleared of any wrongdoing and walked away a free man. Peter and Thomas then appealed their convictions and sentences in the Appellate Court. In April 2002, the court acquitted both of them, noting insufficient evidence. As the investigation continued, officials found that Lindsay had transferred SEK 21 million from Trustor’s funds to foundations controlled by Thomas.
It led to another trial in 2008, during which the District Court convicted Thomas of incitement to gross embezzlement and acquitted him of aggravated tax evasion. He was ultimately sentenced to 1.5 years in prison in May 2008. Although he had appealed that judgment, the Appellate court affirmed his conviction and sentencing in October 2009. He was reportedly set to begin serving his prison sentence in July 2010, but he became wanted nationally and internationally when he failed to appear. However, Thomas finally arrived at the Asptuna Prison, an open correctional facility in Sweden, in 2011. After serving his sentence there, he was released on April 7, 2012.
In November 2017, Thomas was arrested again on the French Riviera in connection with a different alleged financial fraud case. He was charged with attempted gross fraud and gross accounting fraud. In October 2018, the trial finally began, following which he was convicted of both charges in December. He was sentenced to 4 years in prison and given an 8-year business ban. Despite an appeal, the court again convicted him of the same charge and sentenced him to 4 years and 9 months in prison in June 2019. Following his release, he has been residing in an apartment he owns in Monaco. As of writing, it appears that he is maintaining a low profile away from the limelight.
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