Ten former Danske Bank bosses ‘charged in money laundering case’

Ten former Danske Bank bosses 'charged in money laundering case'
File photo: Jacob Gronholt-Pedersen / Reuters / Ritzau Scanpix
Ten former leading employees with Danske Bank have been charged in connection with Danish police economic crime unit SØIK’s investigation into money laundering, according to a report.

One of the indictments, former CEO Thomas Borgen, was already known. Borgen left Danske Bank, Denmark’s biggest lender, in October last year.

The ten individuals will face charges in connection with activities at Danske Bank’s Estonian branch, newspaper Berlingske reports.

According to the bank’s own internal investigation, up to 1.5 billion kroner flowed through the bank via international customers. A large proportion of the transactions are considered to be suspicious.

Danske Bank is being investigated by authorities in Denmark, Estonia, France and the United States, and formal charges have been brought in Denmark and France.

None of the charged individuals are current or former board members at the bank, Berlingske reports based on information provided by its anonymous sources.

SØIK told Ritzau that it did not wish to comment on the Berlingske report, including on whether any police raids had taken place.

Danske Bank also declined to comment, the news agency writes. The bank’s head of press communications said in a written comment that the bank was cooperating fully with investigators.

Preliminary charges were brought against the bank by SØIK in November last year for violating money-laundering laws between February 2007 and January 2016.

READ ALSO: More on the Danske Bank money laundering scandal


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