At the time, in 2011, Vehviläinen also sat on Ilmarinen's board, while the pension fund's CEO, Harri Sailas, chaired Finnair's board.

The property deal caused a storm when it emerged that the apartment had been on the market for some time, and that Vehviläinen had continued to live in it after the sale. Finnair then paid his rent as part of his contractually agreed compensation package.

In addition to Vehviläinen, Ilmarinen CEO Harri Sailas, the company’s deputy CEO Timo Ritakallio and the former Chairman of Finnair’s Board Christoffer Taxell have also been questioned in the investigation.

Police have examined the judicial responsibility of the Ilmarinen Insurance Company. The company could be held to criminal account and face a fine if it has contravened the principles of good business administration and allowed criminal activity to take place.

Investigations into Vehviläinen’s apartment deal started last spring.

Finnair is a major client of the Ilmarinen company. The airline’s new headquarters are being constructed by the company.

All those suspected have denied any involvement.

Finnair’s board continues to give its full support to Vehviläinen.  However, the state has a 56 percent holding in the airline and Heidi Hautala, the minister responsible for the government ownership policy, says that in her opinion Vehviläinen cannot remain at the top of Finnair if charges are filed against him.

A decision by the State Prosecutor’s Office on whether to press charges is expected by the beginning of September.