Braincool announces that it is reporting its former CEO to the police over a prohibited loan, and that it will have to raise capital of SEK 85-95 million.

The police report comes after ex-CEO Martin Waleij allegedly carried out a falsified payment on his own initiative, which was in fact a loan from the company of SEK 7.65 million to himself as a private individual. Since the sum has not been repaid, the company has been forced to file a police report. As of Friday, March 22, Waleij had repaid a smaller amount.

Martin Waleij has lately been the company’s Head of Commercial Operations but is now dismissed with immediate effect. Since February, former operational manager Jon Berg is CEO.

The company is also delaying its annual report to April 5 at the latest, from the previous date of March 22.

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