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Thomas Borgen, chief executive officer of Danske Bank A/S, center, arrives for a news conference in Copenhagen, Denmark, on Wednesday, Sept. 19, 2018. Borgen will step down amid allegations his bank was at the center of a major European money-laundering scandal with as much as $234 billion flowing through a tiny unit in Estonia. Photographer: Freya Ingrid Morales/Bloomberg

The chief executive of Denmark’s Danske Bank resigned Wednesday after an internal investigation found “major deficiencies” that allowed its Estonian branch to launder hundreds of billions of dollars in Russian money, in what is being called the largest money-laundering scandal in European history.

Sue Reisinger

Senior reporter at ALM since 2004; based in Florida; covers general counsel and white collar crime; contact: sreisinger@alm.com

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