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Danske Bank Laundered 7bn euro for Putin's cronies
 After the publication of documents by Berlingske, Danske Bank stock dived 3%, as there was a risk that the bank would be fined. 06.Jul.18 5:43 PM By Shawn Highstraw Photo Wikipedia.org |
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The largest bank in Denmark has laundered seven billion euros from Russia in the scandalous case involving the murder of the whistleblower Sergei Magnitsky. The Danish financial authorities are in a difficult situation, because they were the first to be alerted five years ago but did nothing about the problem of Russian dirty money. The exposure was based on Danske Bank documents that the publication Berlingske got hold of. As it turned out, the bank laundered twice as much as it was reported in 2017. In total, the bank conducted 43,112 questionable transactions related to shell Russian companies registered in Caribbean offshores. Money was withdrawn from Russia through the Estonian branch of Danske Bank in the period from 2007 to 2015. Most of the money was ultimately spent on posh real estate, cars and diamonds. All the companies in question, including Diamonds Forever International, Castlefront and Megacom Transit, are involved in fraud in Russiainvolcing the killing of the lawyer Sergei Magnitsky. In this episode alone, Russian officials, security chiefs and mafia leaders embezzled 200 million euros from the Russian tax system in 2007. Magnitsky, a lawyer for the British hedge fund Hermitage Capital, exposed this crime and thrown into prison, tortured and beaten to death. "We found 20 accounts in Danske Bank connected to the transfer of funds from the 200 million euros that Magnitsky exposed and killed over," said Magnitsky's former employer Bill Browder, who has long campaigned for targeted sanctions against Russian human rights abusers. He described these funds as "blood money". "The Danish authorities seem to be asleep at the switch and refused to open a criminal case when we first approached them in 2013 about criminal proceeds from the Magnitsky case flowing through Denmark," Browder told. After the publication of documents by Berlingske, Danske Bank stock dived 3%, as there was a risk that the bank would be fined. The bank's CEO, Thomas Borgen, may also lose his job or even face charges, given the nature of the violations. "It is very serious. It is unacceptable for such a large amount to be laundered and still kept on the accounts of Danske Bank. He vaguely said that the country's Financial Supervisory Authority (FSA) was reviewing the information that Berlingske reported and could take "possible actions". "This is the most famous case of money laundering around the world," commented Sydbank trader Christian Tatier. | |
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