Prosecutor drops insider probe of Oscar Properties chairman

STOCKHOLM, Dec 19 (Reuters) - The Swedish Economic Crime Authority has dropped a preliminary insider trading investigation of Oscar Properties Chairman Jakob Grinbaum, the real estate developer said on Tuesday.

Oscar Properties said in late September that Grinbaum was being investigated on suspicion of aggravated insider trading in the company’s shares.

“Of course it has not been fun to be the object of this kind of process. Now I’m happy, though not surprised, that I have been cleared of suspicion and the investigation dorpped, Grinbaum said in a statement.

Prosecutor Thomas Langrot told business daily Dagens Industri that the probe had been concluded as there was no longer reason to believe crimes had been committed.

Reporting by Niklas Pollard; editing by Johannes Hellstrom