The Wartsila Corporation said today three men working at its Swedish subsidiary had been arrested by local police, reportedly on suspicion of tax fraud.

Finnish-headquartered Wartsila said it did not know the reason for the arrests.

However a police spokesman said the allegations centered on ‘large amounts of money’ being funneled out of Sweden.

The three men, who are said to hold leading positions at the office, were detained on Wednesday evening after police raided the company’s offices in Trollhattan and Gothenburg.

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