Danske Bank pleads guilty to resolve long-running Estonia money-laundering probe:
Danske Bank pleaded guilty to bank fraud conspiracy on Tuesday and agreed to ...
reuters.com/legal/danske-bank-pleads-guilty-resolve-long-running-estonia-money-laundering-probe-2022-12-13/
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Danske Bank pleaded guilty in U.S. money-laundering caseInvestigators said about €200 billion from high-risk clients moved through the U.S. financial system via Danske’s former Estonia branch.
Key FactsDec 13, 2022 · Reading time: ~45 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- On Dec. 13, Danske Bank pleaded guilty to bank fraud conspiracy and agreed to forfeit $2 billion.
- The now-shuttered Estonia branch let about €200 billion from high-risk clients in Russia and other countries flow through U.S. banks.
- Separately, Danske agreed to pay the SEC $413 million; $850 million of the forfeiture will be credited toward SEC and Danish probes.
- In court filings, the bank admitted defrauding U.S. banks from 2008 to 2016; no individuals were charged, and the investigation continues.
We offer our unreserved apology and take full responsibility for the unacceptable failures and misconduct of the past, which have no place at Danske Bank today.— Martin Blessing, Danske Bank's Chairman of the Board of Directors, in a statement
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process of transforming profits of crime and corruption into ostensibly legitimate assets
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