Antti Herlin

In an investigation into a Långvik land transaction, police suspected Herlin of assisting in aggravated embezzlement. The case was connected to businessmen also involved in the Nemea affair but concerned a separate property transaction.

State of the evidence

police investigation and decision not to prosecute documented

Legal status — source text

Herlin was questioned as a suspect; the prosecutor brought no charges against him

Attribution

explicit personal suspicion not judicially substantiated

Yle documented how substantial KONE dividends could pass into Herlin's holding companies without immediate personal taxation, reigniting Finland's debate over taxation of the wealthy and the distinction between capital and employment income.

State of the evidence

ownership structures and tax amounts documented

Legal status — source text

no tax fraud established; arrangements described as lawful

Attribution

personal asset-management choices, including through his companies

The Paradise Papers revealed that a Herlin company had transferred 3 million euros to contribute to an attempted rescue of Nemea Bank in Malta, which subsequently lost its banking licence following serious regulatory problems.

State of the evidence

transfer and Paradise Papers documents confirmed

Legal status — source text

no personal conviction of Herlin; the bank lost its licence for its own regulatory breaches

Attribution

transaction conducted through Security Trading, a private investment company controlled by Herlin

The European Commission sanctioned KONE and other groups for local cartels involving lifts and escalators in Belgium, Germany, Luxembourg and the Netherlands. KONE challenged the sanctions before the European courts, ultimately without success.

State of the evidence

European Commission decision and appeal litigation documented

Legal status — source text

corporate fines; KONE's appeals dismissed; no personal involvement by Herlin established

Attribution

governance responsibility as KONE executive/chairman, without personal attribution of the cartel

Finnish authorities investigated transactions in Partek by Security Trading while KONE was potentially preparing an acquisition. Herlin and board secretary Tapio Hakakari were suspected of aggravated misuse of inside information.

State of the evidence

preliminary investigation and decision not to prosecute documented

Legal status — source text

the prosecutor decided in 2006 not to bring charges due to insufficient evidence

Attribution

Herlin was personally suspected but not charged

Following Pekka Herlin's death, his other children discovered that his will had been amended in Antti's favour concerning control of KONE. The dispute continued until a 2005 settlement reorganising the shareholdings in KONE and Cargotec.

State of the evidence

family dispute and shareholding restructuring documented

Legal status — source text

family dispute settled in 2005; no criminal offence

Attribution

Antti Herlin was the beneficiary of the controlling stake contested by his siblings