Johan Björkman, chairman of A-P Fonden 3, one of the Swedish national pension funds, is under investigation on charges of alleged insider dealings.

Björkman has been inteviewed by the police and denies the allegations, which relate to a foundation registered outside Sweden, and its dealings in a stock which is also listed outside Sweden, according to Economic Crimes Bureau in Stockholm. The foundation bought shares of the stock weeks before an acquisition was announced and sold them at a 30% premium when the announcement was made.