Panaxia – stealing money by getting it given to you

I’ve got to start this blog with an incredible story that never made it outside Sweden. But that’s what this blog is all about: bringing the realities of the Swedish economy to the outside world.

A security company called Panaxia has recently gone bankrupt. Panaxia was a security company. A company with armored trucks that went around to small businesses like gas stations and small shops, collecting the weekly takings. They were very good at this but they weren’t very good at putting the money in their customer’s accounts.
When they went bottom up, around half a billion krona was missing. In fact that half billion was being used to keep Panaxia in business because they weren’t actually making any money. The island of Gotland was particularly hard hit by this where Panaxia seemed to have been very good at getting customers and many of these customers now face bankruptcy after giving their weekly takings to Panaxia.

This is really a tale worthy of a Hollywood movie. Start a security company, get customers, then steal from the customers by getting them to simply hand over their money with the illusion that you’re going to deposit it into their bank account. Pure genius!