(Quality Digest: Chico, CA) -- Hexagon CEO, Ola Rollén, was detained in Norway on Oct. 29, 2016, on suspicion of insider trading stemming from personal investments unrelated to Hexagon.

According to the company, the Norwegian economic crime authority has accused Ola Rollén of insider trading in connection to an investment in the Norwegian company NEXT Biometrics Group ASA in October 2015 by Greenbridge Partners, a technology investment company founded by Rollén and Swedish businessman Melker Schörling, who is also the chairman of the board at Hexagon.

Following a decision by the district court in Oslo, Norway, on Oct. 29, Rollén was detained, based on the economic crime authority’s need to secure evidence. He will be released on November 4.

“With regard to the ongoing investigation, I cannot comment on the specific contents of the charge other than that the charges involve illegal insider trading in a Norwegian company and that the amounts are significant,” says Norwegian prosecutor Marianne S. Bender. “The maximum sentence for insider trading is six years imprisonment.”

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