[ad_1]
The US Market Advisors Law Group (USMA) in Washington DC is behind this initiative. He was assigned by a group of investors dealing with the Danske Bank stock from February 2014 to November 2018.
Deceptive statements
Danske Bank made false and misleading statements while the bank did not tell its shareholders that they had flaws in their internal control system to combat money laundering – a system control that has been repeatedly ignored by the bank, writes the USMA in a statement.
According to the law firm, Danske Bank's control system did not comply with the legal requirements and the bank's board did not monitor and manage money laundering.
The USMA encourages more investors to contact to participate in group discussions.
The amount of compensation required is not stated in the press release. However, it should be noted that since February, the share of Danske Bank has lost about 50% of the value due to all the media attention in the branch of Danske Bank in Tallinn 2007-2015 since February.
The money laundering can also go back in time and include the Finnish Sampo, reports the Bloomberg news agency.
Sampo bought the branch of the Danish bank where the suspicious transactions took place. Danish parliamentarians have said they want the financial authorities and the police to also investigate Sampo's operations at the time the branch was part of the Baltic activities of the Finnish bank.
Required closed accounts
Sampo's CEO at the unit's sale to Danske Bank in 2007 was Björn Wahlroos, who currently chairs Sampo and the large bank Nordea. Wahlroos previously stated that Sampo had done nothing wrong and that Danske Bank had conducted a thorough review of the company as part of the purchase.
However, according to Estonian media, the Russian central bank demanded in 2006 the closing of suspicious accounts of the Sampo unit in Tallinn, which had also been done before the sale of the unit to Danske Bank.
Facts: Transactions for Thousands of Billions
An ongoing internal investigation into suspicion of money laundering at the Tallinn Danske Bank branch in 2007-2015 revealed alleged transactions totaling $ 230 billion (over SEK 2,300 billion). Authorities in several countries, including Denmark, Estonia and the United States, are investigating money laundering.
According to the evaluator, the US investigation should lead to fines of several billion and, in the worst case, sanctions against Danske Bank, which complicate the financing of the bank abroad.
Customers suspected of using the Danske Bank branch in Tallinn to launder money came from Russia and Azerbaijan.
Among other things, this has forced Danske Bank's former chairman and CEO, Thomas Borgen, to welcome the grand Danish owner, AP Möller Holding, to the presidency of President Ole Andersen.
[ad_2]
Source link
