X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
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

More from this author

Lean Adviser Legal

Think Lean Daily Message

"Facts are what they are. You can t make them, manage them or control them. But what we can do is try to find them and figure out how to live with them. But future events are essentially fickle. The requirement is not investigation, it is risk assessment, and the techniques are quite different. And opinions are unlike either of the above. They are the view from inside someone s head, someone who matters. And sometimes you can change them."

Learn More

 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.