Swedbank’s Former CEO Birgitte Bonnesen cleared of all charges in money laundering Scandal
NordenBladet – Birgitte Bonnesen, the former CEO of Swedbank, has been acquitted of all charges in a case stemming from a money laundering scandal involving the bank’s Baltic operations. The Stockholm District Court found her not guilty of aggravated fraud, serious market manipulation, and unlawful disclosure of insider information. The accusations related to $40 billion in suspect funds handled by the bank between 2007 and 2019, which ultimately led to Bonnesen’s dismissal from her position.
A Swedish court has cleared the former CEO of Swedbank, Birgitte Bonnesen, of all charges in a case related to a money laundering scandal involving the bank’s Baltic operations. The Stockholm District Court found her not guilty of aggravated fraud, serious market manipulation, and unlawful disclosure of insider information.
The accusations related to $40 billion in suspect funds handled by the bank between 2007 and 2019, which ultimately led to Bonnesen’s dismissal from her position as CEO. The prosecutor had sought a minimum sentence of two years in prison for Bonnesen.
The case against Bonnesen also included accusations of publishing misleading information about money laundering in the Estonian branch of Swedbank. The prosecution claimed that Bonnesen spread misleading information about Swedbank’s anti-money laundering measures in the bank’s Estonian branch during the period from autumn 2018 to February 2019. This was after the Danske Bank audit, in which extensive suspicions of money laundering in the Estonian branch of Danske Bank were brought up.
Bonnesen was also suspected of fraud and illegal securities trading, but the court acquitted her of all charges. Bonnesen pleaded not guilty throughout the trial. This was the first time in decades that a former chief executive of a major Swedish bank had been prosecuted.
The acquittal of Bonnesen in the case is a significant development in the ongoing scandal surrounding money laundering at Swedbank’s Baltic operations.
Photo: Swedbank’s Former CEO Birgitte Bonnesen
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