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Ex-Danske CEO Borgen charged over money laundering case - report

Ex-Danske CEO Borgen charged over money laundering case - report
FILE PHOTO: Danske Bank flag flutters at the bank's Estonian branch in Tallinn, Estonia August 3, 2018. REUTERS/Ints Kalnins/File Photo -
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Ints Kalnins(Reuters)
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COPENHAGEN (Reuters) – Danish prosecutors have charged Thomas Borgen, former chief executive of Danske Bank, over his involvement in one of the world’s biggest money laundering scandals, newspaper Borsen reported on Tuesday, citing his lawyer.

Prosecutors raided Borgen’s home on March 12, the report quoted the lawyer as saying.

Danske Bank is under investigation for suspicious transactions of some 200 billion euros (171.08 billion pounds) that passed through its Estonian branch between 2007 and 2015.

Calls to Borgen’s lawyer and the prosecutor were unanswered.

Denmark’s state prosecutor filed preliminary charges against Danske Bank itself in November for alleged violations of the country’s anti-money laundering act in relation to its Estonian branch. The prosecutor said at the time he would clarify whether individuals could be held responsible.

Borgen resigned in September after an investigation revealed the scale of the suspicious payments.

He had been in charge of Danske Bank’s international operations, including Estonia, between 2009 and 2012.

Investors are still waiting to find out the scale of potential fines from authorities in the United States and other countries over the scandal.

(Reporting by Jacob Gronholt-Pedersen; Editing by Dale Hudson/Keith Weir/Alexander Smith)

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