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Fingerprint Cards appoints acting Board Chair after Carlström found guilty of insider trading

Fingerprint Cards appoints acting Board Chair after Carlström found guilty of insider trading

Johan Carlström is leaving Fingerprint Cards’ Board of Directors after being found guilty of insider trading and sentenced to a year and a half in prison by a Stockholm District Court.

Dimitrij Titov has been appointed acting chairman of Fingerprint Cards, effective immediately.  The company also plans to hold an extraordinary general meeting.

Following the verdict, Carlström resigned as Chairman of the Board, saying in a statement that though he disagrees with the court’s decision, it is in the company’s best interest for him to leave the board.

The alleged insider trading took place in 2016, and during the court proceedings a Swedish Prosecutor was accused by representatives of Fingerprint Cards of sharing trade secrets of the biometrics provider.

“The Board’s work continues uninterrupted, with a strong shared view of the company’s challenges, business model and strategy,” Titov comments.

Fingerprint Cards recently expanded a partnership with Feitian on biometric payment cards.

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