Investigators have Sweden, the largest Bank in the Baltic States searches. She is suspected of insider trading and fraud. You may be involved in the money laundering scandal of Danske Bank.
The Swedish Agency for economic crime, has broadened the scope of its preliminary investigations against the Bank. In the Headquarters of Swedbank, a RAID was carried out. After the search, the authorities stated, to the suspicion of insider trading, the suspicion of serious fraud. The Bank announced that it plans to cooperate with the authorities. “This has been a very hard day for Swedbank, our employees and our shareholders,” said the Chairman of the Board Birgitte Bonnensen.
Shareholders in advance of burdensome media report?
So far there are only preliminary studies. According to the Bank, there is no suspicion against a concrete person or a legal entity. Background of the investigations, the accusations in a TV-documentation broadcaster SVT: it is the suspicion of the unauthorised disclosure of insider information. The Swedbank should have informed their 15 largest shareholders two days before the airing of the documentary about the incriminating content. The channel reported that it had seen documents that showed that between 2007 and 2015, from Swedbank accounts, were at least invested 3.8 billion euros in “suspicious transactions” to the Baltic States. According to the documentation there is evidence to suggest that Swedbank has carried out a part of these transactions, together with the Danish Danske Bank. Danske Bank is a Laundry in the centre of a major money scandal. Denmark’s largest Bank is to have between 2007 and 2015, through its subsidiary in Estonia transactions of non-residents in Estonia and the company in the amount of 200 billion euros. The Customer of the transactions to come from Russia, Moldova and Azerbaijan.
Investigations also in the Baltic States
The authority for economic crime, said that the further investigations should show whether there had been a fraud, and who could be drawn in this case to account for this. In the preliminary studies, it was not a question of whether there had been accounts in the Baltic States to money laundering to Swedbank, but only a question of how the Bank management with information about alleged money laundering deal. Also in Estonia, Latvia and Lithuania to determine the overseers against the Swedish institution for alleged involvement in the money laundering scandal at the Danske Bank.
SVT also reported that Swedbank have withheld from US authorities in connection with the “Panama Papers” information. So the money house should have led the authorities in relation to the Connections of your customers to the in the center of the Panama Papers scandal, the law firm Mossack Fonseca is misleading. In the documentary it says, an internal investigation at the Swedbank have also shown that many of the “high risk customers” would never be accepted.
Difficult Annual General Meeting
The Bank’s shares plunged on Wednesday by more than eleven percent. Since the first report of the TV channel in February, the papers have already lost more than a quarter of their value.
The Swedbank is the largest Bank in Sweden and the Baltic States. Almost a fifth of their income in Estonia, Latvia and Lithuania. In the three countries, it has 3.3 million private customers and 300,000 business customers. On Thursday the Bank’s management Board must at the annual General meeting of its shareholders, had criticized the handling of the Bank with the allegations.
cvo/kle (dpa, rtr, afp)