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A building owned by Nuorisosäätiö, a Centre-affiliated non-profit organisation, on Lastenkodinkatu in Helsinki on 31 July 2018.
A building owned by Nuorisosäätiö, a Centre-affiliated non-profit organisation, on Lastenkodinkatu in Helsinki on 31 July 2018.

 

Nuorisosäätiö, a Centre Party-affiliated non-profit organisation dedicated to promoting the independence of young people, is believed to have lost millions of euros due to a series of real estate transactions and tenancy agreements devised and approved by its former management, reports Helsingin Sanomat.

The losses incurred by the non-profit organisation may rise to tens of millions of euros depending on its ability to nullify the agreements and realise the properties.

Helsingin Sanomat on Wednesday reported that the organisation squandered funds on ill-advised transactions that, for example, saw it make a gross overpayment for a property in Lahti and sign an 80-year land lease agreement in Seinäjoki. The investigators have found no evidence of funds having been channelled to the Centre Party, according to the newspaper.

The main suspects in the case are Aki Haaro, an ex-managing director, and Perttu Nousiainen, an ex-board chairman at Nuorisosäätiö.

Kimmo Pihlman, the current managing director at Nuorisosäätiö, assures that the organisation is working together with police to investigate the alleged offences, adding that the investigation is expected to take several months if not years.

“These were actions that can’t be justified from a business perspective,” he was quoted as saying by Uusi Suomi on Thursday.

Both Haaro and Nousiainen stepped down last spring following the emergence of bribery allegations. They are suspected of violating the foundations act by pocketing hundreds of thousands of euros worth of benefits from Salpausselän Rakentajat, one of the collaboration partners of Nuorisosäätiö, in 2015–2016.

Also former executives of the construction company are suspected of aggravated tax frauds and aggravated tax offences. The company has since changed its name to Pallas Rakennus.

Nuorisosäätiö on Tuesday confirmed it is planning on selling seven non-subsidised properties by the end of the year to replenish its depleted coffers, stirring up concerns among many of its tenants, according to Helsingin Sanomat.

Aleksi Teivainen – HT
Photo: Mikko Stig – Lehtikuva
Source: Uusi Suomi

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