P: 202-342-6980 | F: 202-342-6984
BLOG | CONTACT US |     

Return to Blog Listing

Danish Prosecutors Charge Ex-Danske CEO in $224 Billion Money-Laundering Scandal

Washington, D.C. May 10, 2019. Reuters, citing Danish newspaper Borsen, reported Tuesday that Danish prosecutors have charged Thomas Borgen, former chief executive of Danske Bank for his role in what some have called the biggest money-laundering scandal in world banking history.

Borgen, who was in charge of Danske Bank’s international operations, including Estonia, between 2009 and 2012, resigned in September after an investigation revealed the scale of the suspicious payments.

A British trader in Danske Bank’s Estonia office, Howard Wilkinson, confidentially raised concerns over the illegal money-laundering scheme in 2013.  Mr. Wilkinson, who worked for Danske Bank’s Estonia branch from 2007 to 2014, wrote four whistleblower reports about the dirty money, some of which was coming from Russia.

The Danske Bank scandal exposed Denmark’s lack of whistleblower protections which prevented Mr. Wilkinson from reporting banking irregularities directly to law enforcement after the bank refused to act on his internal reports.

“Bank executives who facilitated money laundering must be held accountable,” said whistleblower lawyer Stephen M. Kohn, who represents Mr. Wilkinson.

According to Reuters, Danish prosecutors raided Borgen’s home on March 12 and cited that unnamed sources claim at least two other former Danske Bank managers have been charged for their roles in the money-laundering scheme.

 

Authorities in several countries are investigating Danske Bank, including the United States, where it could face significant fines.

 

* * *

 

Share this post

 Comments (0)

No comments added!

Leave a comment

 
 
 

Type the code below into the textbox.


The Whistleblower Blog

Stay Connected

Disclaimer | Privacy Policy

About the Whistleblower Blog

The Whistleblower Blog is an editorially independent news and information source, sponsored by a pro bono public service project by Kohn, Kohn & Colapinto, LLP. The blog highlights important news, legal developments and policy issues critical to whistleblowers and their advocates, both in the United States and internationally. The contributors to this blog are respected leaders in their fields, including the authors of key whistleblower law books, current and former legal professors, spokespersons before Congressional committees and other public bodies, directors of non-profit whistleblower advocacy groups, and prominent attorneys specializing in representing/assisting whistleblowers in the United States and throughout Europe, Asia, Africa and South America.