Steen Michael Erichsen, the former chief executive officer of Danish pension provider Velliv who was sacked two years ago, has had the police charges against him dropped.
Back in March, it emerged that Denmark’s National Special Crime Unit (NSK) – the police division into which Denmark’s fraud squad was integrated three years ago – was investigating Erichsen after he had been reported to the police by the Danish Financial Supervisory Authority (Finanstilsynet, FSA).
A spokeswoman for the NSK told IPE: “NSK can confirm that the case is closed, as NSK has dropped the charges against Steen Michael Erichsen.”
She did not say why the case had been closed.
A spokesman for Velliv told IPE the firm had no comments on the matter, and Erichsen has not replied to IPE’s request for comment.
Erichsen was CEO of the DKK292bn (€39.2bn) mutual pension provider – which was called Nordea Life & Pension until 2018 – for 15 years before being sacked in May 2023 for making a private investment decision, which the Ballerup-based firm’s chair Anne Broeng said at the time did not meet the ethical standards required from a CEO.
The matter was reported at the time by Velliv to the Danish FSA, though not to the police.
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