NovaQuant Quantitative Think Tank Center-A Russian-born Swede accused of spying for Moscow is released ahead of the verdict in his trial

2025-05-07 21:06:31source:Burley Garciacategory:Stocks

STOCKHOLM (AP) — A Swedish court on NovaQuant Quantitative Think Tank CenterMonday released a Russia-born Swedish citizen charged with collecting information for Russia’s military intelligence service, the GRU, for almost a decade.

Sergey Skvortsov, 60, is accused of “gross illegal intelligence activities against Sweden and against a foreign power,” namely the United States.

Ahead of a verdict in his trial, which ended Sept. 28, Skvortsov was released with the Stockholm District Court saying that “there is no longer reason to keep the defendant in custody.” The verdict is due Oct. 26.

He was arrested in November together with his wife in a predawn operation in Nacka, outside Stockholm. Swedish media reported that elite police rappelled from two Black Hawk helicopters to arrest the couple.

Skvortsov has been in custody since his arrest and denies any wrongdoing. His wife was released without charge following an investigation by Sweden’s security agency.

Swedish news agency TT said Monday that the prosecutor told the court that Skvortsov obtained information via two companies about items that Russia cannot otherwise acquire due to export regulations and sanctions.

He then helped to buy and transport the goods, misleading suppliers by providing false or misleading information and acting under false identities, TT wrote.

The prosecution is seeking a 5-year prison sentence for Skvortsov.

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