the
Financial Times
called it.
âThat was 1992,â Lindberg said. âWennerström contacted AIA and said he wanted funding. He presented a plan, seemingly backed by interests in Poland, which aimed at establishing an industry for the manufacture of packaging for foodstuffs.â
âA tin-can industry, you mean.â
âNot quite, but something along those lines. I have no idea who he knew at the AIA, but he walked out with sixty million kronor.â
âThis is starting to get interesting. Let me guess: that was the last anyone saw of the money.â
âWrong.â Lindberg gave a sly smile before he fortified himself with a few more sips of brandy.
âWhat happened after that is a piece of classic bookkeeping. Wennerström really did set up a packaging factory in Poland, in Lódz. The company was called Minos. AIA received a few enthusiastic reports during 1993, then silence. In 1994, Minos, out of the blue, collapsed.â
Lindberg put his empty glass down with an emphatic smack.
âThe problem with AIA was that there was no real system in place for reporting on the project. You remember those days: everyone was so optimistic when the Berlin Wall came down. Democracy was going to be introduced, the threat of nuclear war was over, and the Bolsheviks would turn into regular little capitalists overnight. The government wanted to nail down democracy in the East. Every capitalist wanted to jump on the bandwagon and help build the new Europe.â
âI didnât know that capitalists were so anxious to get involved in charity.â
âBelieve me, it was a capitalistâs wet dream. Russia and Eastern Europe may be the worldâs biggest untapped markets after China. Industry had no problem joining hands with the government, especially when the companies were required to put up only a token investment. In all, AIA swallowed about thirty billion kronor of the taxpayersâ money. It was supposed to come back in future profits. Formally, AIA was the governmentâs initiative, but the influence of industry was so great that in actual fact the AIA board was operating independently.â
âSo is there a story in all this?â
âBe patient. When the project started there was no problem with financing. Sweden hadnât yet been hit by the interest-rate shock. The government was happy to plug AIA as one of the biggest Swedish efforts to promote democracy in the East.â
âAnd this was all under the Conservative government?â
âDonât get politics mixed up in this. Itâs all about money and it makes no difference if the Social Democrats or the moderates appoint the ministers. So, full speed ahead. Then came the foreign-exchange problems, and after that some crazy New Democratsâremember them?âstarted whining that there was a shortage of oversight in what AIA was into. One of their henchmen had confused AIA with the Swedish International Development Authority and thought it was all some damn do-gooder project like the one in Tanzania. In the spring of 1994 a commission was appointed to investigate. At that time there were concerns about several projects, but one of the first to be investigated was Minos.â
âAnd Wennerström couldnât show what the funds had been used for.â
âFar from it. He produced an excellent report which showed that around fifty-four million kronor was invested in Minos. But it turned out that there were too many huge administrative problems in what was left of Poland for a modern packaging industry to be able to function. In practice their factory was shut out by the competition from a similar German project. The Germans were doing their best to buy up the entire Eastern Bloc.â
âYou said that he had been given sixty million kronor.â
âExactly. The money served as an interest-free loan. The idea, of course, was that the companies would pay back part of the