Denmark’s Danske Bank can breathe a sigh of relief: A US judge has accepted a guilty plea and $1 billion fine by the bank in one of the world’s biggest money laundering scandals. Thus, investigations in this context can be discontinued.
Danske Bank admitted to the bank fraud conspiracy in the United States at the end of 2022. In addition, according to the US Department of Justice, the bank agreed to pay a fine of more than two billion dollars.
212 billion dollars poured in
The bank admitted defrauding US banks between 2008 and 2016. According to prosecutors, Danske Bank’s Estonian office solicited Russian clients, among other things, with the prospect of transferring large sums of money without much oversight. About $212 billion then flowed through the US financial system from these clients via the branch, which has since been closed.
According to US authorities, Danske employees used shell companies to hide ownership of the funds. According to the information, Danske has been aware of the illegal transactions since at least 2014.
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