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Danske Bank boss quits over €200bn money-laundering scandal

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It appears that Danske Bank in Estonia has assisted in laundering €200bn worth of assets. According to news reports, a lot eventually ended up in London property. It is a staggering amount of money for a single branch to launder and does not seem possible without significant cooperation and collusion.

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The chief executive of Danske Bank has resigned in the wake of a money-laundering scandal involving its Estonian operation.

Thomas Borgen stepped down following an investigation into payments of about €200bn (£177bn) through its Estonian branch.

 

Danske Bank boss quits over €200bn money-laundering scandal

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Indeed.

The US has stepped up its anti-laundering massively. And I mean massive - confirm or face punitive sanctions.

People think its just backs and defense companies.

Its not.

*THE* choices for laundering stashing dodgy cash are British crown decencies (Jersey, etc) and London property.

I would guess we are not far off of an EA and/or lawyer being extradited to US to face aiding crime charges.

You do no want to go to jail in America.

 

 

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https://www.ft.com/content/cbc4b02a-bbda-11e8-8274-55b72926558f

Theres a good comment:

'So let me get this straight... the gdp of Denmark is c €300bn. The article contends that c €200bn of questionable money, or two-thirds if gdp, flows through a kiosk of a branch in a tiny country and it takes this long for someone to take responsibility for this !? It beggars belief...'

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41 minutes ago, spyguy said:

https://www.ft.com/content/cbc4b02a-bbda-11e8-8274-55b72926558f

Theres a good comment:

'So let me get this straight... the gdp of Denmark is c €300bn. The article contends that c €200bn of questionable money, or two-thirds if gdp, flows through a kiosk of a branch in a tiny country and it takes this long for someone to take responsibility for this !? It beggars belief...'

Just like HSBC with the drug cartel money, if you're making coin no need to ask too many questions.

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2 hours ago, spyguy said:

Indeed.

The US has stepped up its anti-laundering massively. And I mean massive - confirm or face punitive sanctions.

People think its just backs and defense companies.

Its not.

*THE* choices for laundering stashing dodgy cash are British crown decencies (Jersey, etc) and London property.

I would guess we are not far off of an EA and/or lawyer being extradited to US to face aiding crime charges.

You do no want to go to jail in America.

 

 

I find this strange will this not affect all that money coming into the west

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11 minutes ago, Cryptotrader said:

The UK is the epicentre of Worldwide corruption.

yea not Nigeria or many other African nations who get aid to build huge mansions for the govt

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22 hours ago, Freki said:

Chances he will see the jail he so deserves?

Jail? Did you miss the bit where it mentioned he's a banker?

All within the rules:

Quote

Even though the investigation conducted by the external law firm concludes that I have lived up to my legal obligations, I believe that it is best for all parties that I resign," he said

 

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14 minutes ago, happyguy said:

yea not Nigeria or many other African nations who get aid to build huge mansions for the govt

Indeed. Africans cannot come close to competing with the British when it comes to corruption.

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Now without going too deeply into details....the European Banking Authority stress tests of 2016 gave Danske a clean bill of health. 

This was due to its...ahem.....sticky Russian deposits, which in a banking crisis would not leave Danske. A special exemption was made on these grounds and Danske scored well. 

Corruption at the very highest of levels but with a direct impact on the UK housing market. 

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Getting more and more serious.

Somehow - how did that happen??? - the whistleblowers Id has leaked. There were only 4 people who knew his identity in Danske.

Oh dear.

Board has sacked the CEO and head legal honcho.

Whstlblower - a Brit who worked at HBS of all places - has hired the same legal compnay used by Bradley Birkenfield.

 

 

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19 hours ago, spyguy said:

Getting more and more serious.

Somehow - how did that happen??? - the whistleblowers Id has leaked. There were only 4 people who knew his identity in Danske.

Oh dear.

Board has sacked the CEO and head legal honcho.

Whstlblower - a Brit who worked at HBS of all places - has hired the same legal compnay used by Bradley Birkenfield.

 

 

The internal whistleblower who helped reveal alleged money laundering at Danske Bank’s Estonian branch was reportedly a British former head of its trading business in the Baltics.

Howard Wilkinson

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https://www.google.co.uk/amp/s/amp.theguardian.com/business/2012/nov/23/michael-woodford-olympus-whistleblower

This is humbling. It's a long way from a private jet," Michael Woodford shouts out as he charges across five lanes of traffic and into the underground at Euston Square.

In a previous life as the boss of one of Japan's biggest companies, Woodford was used to being served champagne at 33,000ft as a stewardess put slippers on his feet. But that was a very different life again from the one Woodford was born into, in a "sink estate in Liverpool"

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And what impact has this had on the main stream press and therefore the awareness of the public as a whole? Absolutely none. It's almost like the people who run the press don't actually want the masses to know what's going on ....

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55 minutes ago, Switch625 said:

And what impact has this had on the main stream press and therefore the awareness of the public as a whole? Absolutely none. It's almost like the people who run the press don't actually want the masses to know what's going on ....

This is not about the plebs.

Its about a verylarge fraud/laudering in an ECB supervised bank.

The US epsonse to this and on he ECB could be brutal.

 

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On 02/10/2018 at 09:22, spyguy said:

This is not about the plebs.

Its about a verylarge fraud/laudering in an ECB supervised bank.

The US epsonse to this and on he ECB could be brutal.

 

True enough spy, the people who need to know, know.

But my point was how remarkably little coverage in the media, something so glaring important had received.

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On 03/10/2018 at 21:27, Switch625 said:

True enough spy, the people who need to know, know.

But my point was how remarkably little coverage in the media, something so glaring important had received.

You are too intelligent for your boots 

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