- Title: Danske Bank closes down its banking activities in Estonia
- Date: 1st October 2019
- Summary: COPENHAGEN, DENMARK (FILE - SEPTEMBER 18, 2018) (REUTERS) EXTERIOR OF DANSKE BANK DANSKE BANK SIGN VARIOUS EXTERIORS TALLINN, ESTONIA (FILE - SEPTEMBER 18, 2018) (REUTERS) DANSKE BANK FLAGS EXTERIOR OF DANSKE BANK DANSKE BANK SIGN VARIOUS OF ENTRANCE STAFF INSIDE VARIOUS EXTERIORS SIGN WITH FLOOR MAP DANSKE BANK SIGN ON BUILDING DANSKE BANK BUILDING
- Embargoed: 15th October 2019 11:25
- Keywords: Danske Bank Estonia bank liquidation money laundering Aivar Rehe money laundering scandal
- Location: COPENHAGEN, DENMARK / TALLINN, ESTONIA
- City: COPENHAGEN, DENMARK / TALLINN, ESTONIA
- Country: Estonia
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA001AZ9NWAH
- Aspect Ratio: 16:9
- Story Text: Danske Bank said its Estonian business had entered into liquidation on Tuesday (October 1) after the country's financial regulator in February ordered it to close its branch at the centre of one of the largest-ever money laundering scandals.
Executive Vice President and chairman of the Liquidation Committee Frederik Bjoern said in a statement Danske Bank had closed all its activities in Estonia in accordance with a plan agreed with the Estonian Financial Supervision Authority.
Danske Bank, Denmark's largest lender, is under investigation in several countries, including the United States, Denmark, Britain and Estonia, over suspicious payments totalling 200 billion euros ($220 billion) which were moved through its tiny Estonian branch.
The former head of Danske Bank in Estonia, Aivar Rehe, was found dead by police near his home last week, though police said at the time no investigation would be opened as there were no signs of violence or any indication of an accident.
Estonian prosecutors confirmed that Rehe had been questioned as a witness, not a suspect, in a case opened in December last year against 10 former Danske Bank employees involving the alleged laundering of around 300 million euros ($327 million).
(Production: Dominik Starosz, Lewis Macdonald) - Copyright Holder: FILE REUTERS (CAN SELL)
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