LONDON – 10 July 2025 – Global law firm Greenberg Traurig, LLP has achieved a significant High Court victory for the Swedish Pension Agency, on behalf of the Kingdom of Sweden, and over 46,000 pension savers affected by the ‘Falcon Fund Fraud’ in one of the largest, most systematic attacks on the Swedish pension system.
The court’s decision, given by His Honour Judge Pelling KC on 8 July, confirms a total award of €107 million for the Swedish Pension Agency, inclusive of interest, along with £5.5 million payment for costs. The latest ruling will enable further recoveries from the defendants which will ultimately benefit Swedish pension savers.
The Greenberg Traurig team was led by Hannah Blom-Cooper, a shareholder in the firm’s London Litigation Practice, and comprised Shareholder Mehmet Karagoz, Senior Associate Bethany Histed, and Associate Tina Kang. The team instructed Aidan Casey KC of 33 Chancery Lane and Charlotte Thomas of Brick Court Chambers.
Blom-Cooper said, “This judgment is the final piece of the puzzle in this long-running saga for justice on behalf of the Swedish pension savers through the English Courts. It follows over six years of work that included a two-year investigation phase, worldwide freezing orders and proceedings issued in March 2020, the criminal conviction of the three main defendants in Sweden in 2021 – followed by prison sentences, a successful summary judgment application in relation to the early phase of the fraud in October 2022 – attended by two defendants from their prison cells, two settlements in 2022, followed by two settlements on the eve of trial last month, and then a truncated trial involving six of the original 14 defendants.”
Karagoz added, “Our client chose a relatively radical path in pursuing all possible wrongdoers and their assets wherever they were in the world through the English courts. This judgment is vindication of our client’s bravery and investment in this jurisdiction and the trust it placed in us as lawyers.”
To view the full judgment, please click here.