Intellego Technologies’ recent financial woes deepened as a KPMG audit revealed that approximately 99.4% of the company’s reported revenue is unsupported, according to findings released January 30, 2026. The revelations come after the company launched an investigation following concerns surrounding the actions of former CEO Claes Lindahl, who has been reported to authorities for suspected fraud.
“We were all misled by a skilled fraudster,” stated Greg Batcheller, Chairman of Intellego, during a press briefing. The company’s chairman indicated that the audit suggests some employees may have been aware of, or contributed to, questionable business practices, whereas also participating in legitimate customer acquisition.
“Probably a bit of both,” Batcheller said when asked about the extent of employee involvement. “But when we talk about the involvement of other employees (besides the company’s former CEO Claes Lindahl), we are not in a position to make any accusations at this time.”
KPMG was granted full access to company records, including both physical and cloud-based documents, to conduct its forensic accounting review. According to Batcheller, this included email correspondence between Lindahl and board members, as well as internal communications among the board itself.
With nearly all revenue excluding contributions from Daro deemed fictitious, questions have arisen regarding the viability of Intellego. Despite the lack of substantial sales, Batcheller expressed optimism about the company’s future, citing continued demand for its healthcare products and potential for renewed discussions with Henkel in the area of hardening technologies.
The company acknowledged that its cash position will likely grow strained in 2026 due to ongoing losses. However, Batcheller stated that Intellego currently does not face an immediate cash crisis, citing a pending tax resolution and potential contributions from Daro, as well as the possibility of seeking additional funding.
Intellego currently employs between eight and ten people, primarily located in Stockholm, Skåne, and Borås in Sweden, as well as in Denmark, Austria, and China. The company’s financial situation underscores the risks inherent in rapidly growing technology firms and the importance of robust internal controls.
