Anders Borg is being investigated for inappropriate and offensive behaviour, but has denied the charges.
LONDON – Anders Borg has resigned as deputy chairman of tech investment group Kinnevik following allegations of drunken and inappropriate behaviour at a party.
Swedish police are investigating Borg, who was Sweden's finance minister between 2006 and 2014, for sexual harassment, affront and unlawful threats.
Borg also resigned his post at investment bank Citi.
"Anders Borg has informed us that he is resigning from his role as a senior advisor to Citi," a spokesperson for the bank said in an email.
Borg issued an initial apology on Facebook, but did not accepted the allegations.
He said he had been under a lot of pressure in recent months and had blacked out. "I would like to apologise sincerely to those present who took offence. Feeling great disappointment and remorse over my behaviour," he wrote.
In a second statement, Borg said he had chosen to leave his positions at Kinnevik and at Bima, an insurance company, amid the media frenzy, but maintained he had done nothing criminal.
"I cannot comment on the situation that has arisen further. My apology on Facebook was about me being rude. It should not be interpreted as a recognition of a crime. I haven't done anything criminal," he said.
At the party in question, which occurred in July, Borg is said to have threatened guests, used misogynistic language and exposed himself, according to several Swedish newspapers citing anonymous sources.
Borg's colleague Anna Kinberg Batra, Leader of the Moderate Party, said she welcomed the police investigation and that the allegations were "very serious," which prompted Borg to criticise her for political point-scoring.
Kinnevik said on Sunday that Henrik Poulsen, of Dong Energy, would replace Borg.