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.
NordenBladet – The preliminary investigation into the disappearance of a Finnish man in his twenties from the Baltic Princess cruise ship in November has been completed, and the ship’s captain is now suspected of neglecting good seamanship and rescue operations. The incident occurred during a PeIsKä cruise organized by Turku University economics students, and the man was last seen on top of the night club structures on the ship.
The Baltic Princess, operated by the shipping company, was on a PeIsKä cruise organized by Turku University economics students when a Finnish man in his twenties disappeared from the ship in November. The shipping company was notified of the man’s disappearance at three o’clock in the morning by an informant who had last seen the man on top of the night club structures.
According to the shipping company, after the announcement, the ship began to examine surveillance camera recordings and search for the man inside the ship. However, the Coast Guard was not alerted until four hours later, after seven in the morning.
According to the Coast Guard of Western Finland, the man had climbed onto the railings on the outer roof of the ship’s night club and fell into the sea almost immediately. Neither the ship’s master nor the ship’s staff had a definite observation about the man falling into the sea.
Because of this, alerting the authorities was delayed, leading to the suspicion that the ship’s captain neglected good seamanship and rescue operations. The matter has now been transferred to the prosecutor’s district of Åland for prosecution consideration.
Additional information:
* MS Baltic Princess is a cruiseliner owned by the Estonia-based ferry operator Tallink and operated under their Silja Line brand. She was built by Aker Finnyards Helsinki New Shipyard in Helsinki, Finland in 2008. The ship began service on the cruise route between Helsinki, Finland to Tallinn, Estonia on 17 August 2008. From 1 February 2013 the ship began service on the Turku–Mariehamn–Stockholm route. It features a variety of amenities, including restaurants, bars, a spa, and a variety of entertainment options.
Featured image: Silja Line terminal (NordenBladet)
NordenBladet – Finnish businessman Toivo Sukari, the founder and largest shareholder of Maskun Kalustetalo and Ideapark, recently opened up about his health struggles after a heart operation. Sukari, who is 68 years old and also owns the shopping mall chain stores Masku Koti and Sukarin Lomarakennus, was diagnosed with sepelvaltimotauti (coronary artery disease) last December during a routine health checkup.
Businessman Toivo Sukari, 68, recently opened up to Helsingin Sanomat about his health struggles after a heart operation. Sukari had a heart procedure called pallolaajennus (balloon angioplasty) on January 11th, which went well and he was able to return home to recover the same evening. However, just two days later, Sukari felt well enough to go for an eight-kilometer walk. Despite feeling good after the walk, the next morning he woke up feeling dizzy and with high blood pressure. He took a couple of sprays of nitroglycerin and soon lost consciousness. His wife Nadja Eerola called an ambulance and he was rushed to the hospital.
“My values changed instantly. My businesses vanished into the horizon as soon as I realized this was serious,” Sukari said.
A week later, on Monday, Sukari had to undergo a second pallolaajennus. “As far as I understand, it’s quite exceptional for someone to have two balloon angioplasties within a week,” he said.
Sukari has sepelvaltimotauti, which was diagnosed during a routine checkup in December. According to Helsingin Sanomat, the disease did not show any symptoms. Sukari requested to have an angiogram to check his coronary arteries.
However, Sukari’s struggles did not end with the second pallolaajennus. He experienced pain and discoloration in his hand, which was a side effect of the operation. He also received counseling while in the hospital.
“But I have someone at home with whom I can talk,” Sukari said. He also reflects on what could have happened if the disease had not been detected in December. “Would I have died on a walking trail? Or would I have lived happily thinking I was healthy and fit? Did I bring this on myself?”
Sukari, who comes from a Laestadian family and has seven siblings, is the founder and largest shareholder of Maskun Kalustetalo and Ideapark, as well as the owner of the shopping mall chain stores Masku Koti and Sukarin Lomarakennus.
Featured image: Toivo Sukari (NordenBladet)
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More info about balloon angioplasty:
Angioplasty is a procedure to open narrowed or blocked arteries caused by deposits of plaque. If the blockage is not major, the problem may be corrected by inflating the balloon several times to compact the plaque against the arterial wall, widening the passage for the blood to flow through. Typically, a device called a stent is placed within the coronary artery to keep the vessel open.
NordenBladet – Throughout history, there have been many individuals who have made significant contributions to the field of finance and economics. These individuals, often referred to as financial geniuses, have made a lasting impact on the way we think about and manage money. In this article, we will take a look at some of the most famous financial geniuses of the past and explore their stories of success.
Here are a few examples of famous financial geniuses from the past and how they became successful:
John D. Rockefeller: John D. Rockefeller (July 8, 1839 – May 23, 1937) was an American industrialist and philanthropist who, at the time of his death, was the wealthiest person in history. He made his fortune through the oil industry, and is considered one of the wealthiest people of all time. He became successful through a combination of savvy business practices, such as using vertical integration to control every aspect of the oil production process, and ruthless competition.
One of the most famous quotes by John D. Rockefeller is: “The ability to deal with people is as purchasable a commodity as sugar or coffee. And I pay more for that ability than for any other under the sun.”
This quote highlights Rockefeller’s belief that the ability to effectively interact with others is a valuable skill that can be acquired and is just as important as any other commodity. He was known for his ability to build and maintain business relationships, which was key to his success as one of the wealthiest and most powerful industrialists in American history
Andrew Carnegie: Andrew Carnegie (November 25, 1835 – August 11, 1919) was a Scottish-American industrialist and philanthropist.
Andrew Carnegie is known for saying, “The man who dies rich dies disgraced.” He believed in the importance of giving back to society through philanthropy, and he donated much of his wealth to charitable causes.
One of his biggest achievements was the creation of the Carnegie Steel Company, which became the largest steel producer in the world in the late 19th century and made his fortune. He also built a large number of libraries throughout the United States and other countries, which were donated to communities to provide access to education and knowledge. He also helped establish the Carnegie Institution for Science, the Carnegie Endowment for International Peace, the Carnegie Hero Fund, and the Carnegie Mellon University.
J.P. Morgan: John Pierpont Morgan Sr. (April 17, 1837 – March 31, 1913) was an American banker and financier who played a central role in the formation of some of the largest corporations in the United States. He became successful through a combination of astute financial investments and strategic mergers and acquisitions.
Here are some quotes by John Pierpont Morgan Sr. that are widely considered to be some of his best:
“A man always has two reasons for doing anything: a good reason and the real reason.”
“Gold is money, everything else is credit.”
“No problem can be solved until it is reduced to some simple form. The changing of a vague difficulty into a specific, concrete form is a very essential element in thinking.”
“I owe my success to having been always prepared, to having taken advantage of my opportunities, and to having been persistent in my efforts.”
“A man who has not gone through the inferno of his passions has never overcome them.”
“The first step towards getting somewhere is to decide that you are not going to stay where you are.”
Rothschild Family: The Rothschild family is a European banking dynasty that has been involved in finance for over 200 years. They played a major role in funding various wars and revolutions throughout Europe, which allowed them to establish a global network of banks and finance companies.
The Rothschild family’s wealth and fame can be traced back to Mayer Amschel Rothschild (23 February 1744 – 19 September 1812), who was born in Frankfurt, Germany in 1744. He began his career as a money lender and goldsmith, but quickly expanded his business to include banking and finance. He established a banking network across Europe, with his five sons each heading a branch in London, Paris, Vienna, Naples and Frankfurt.
One famous saying attributed to Mayer Amschel Rothschild is “Give me control of a nation’s money supply and I care not who makes its laws.”
This quote is widely quoted in many books, articles and documentaries.
Cornelius Vanderbilt: Cornelius Vanderbilt (May 27, 1794 – January 4, 1877) was an American business magnate who made his fortune in railroads and shipping. He became one of the wealthiest people in the world through a combination of shrewd business deals and relentless competition.
Cornelius Vanderbilt, also known as “Commodore Vanderbilt,” was a prominent American businessman and philanthropist in the 19th century. He is known for building a vast fortune through his transportation empire, which included steamships and railroads.
One famous quote attributed to Cornelius Vanderbilt is “The public be damned!” This quote is widely attributed to him, although there is no concrete evidence that he actually said it. It is said that he was referring to the public opinion when he was building railroads. It is supposed to express his disregard for the public opinion during his business endeavors.
Jacob Wallenberg: Jacob Wallenberg (27 September 1892 – 1 August 1980) was a Swedish businessman and financier who played a significant role in the development of the Swedish economy in the 20th century. He was a member of the prominent Wallenberg family, which controlled a significant portion of the Swedish economy through their holding company, Investor AB. Jacob Wallenberg served as the chairman of Investor AB for many years and was also involved in the management of several other major companies, such as Ericsson and Atlas Copco.
Wallenberg family is known for its influence and success in business, and their name is often associated with quotes about success, innovation, and entrepreneurship.
Christian IV of Denmark: Christian IV (12 April 1577 – 28 February 1648) was the king of Denmark and Norway from 1588 to 1648. During his reign, he implemented several economic and financial reforms, such as the establishment of a national bank and the introduction of paper money. He also built a strong navy and established colonies in the Caribbean, which helped to increase the wealth and power of Denmark.
He is known for having said:
“I will be King as long as I live, and after my death I will be a great king in history.”
He was also known for his patronage of architecture and his role in the construction of many important buildings in Denmark, such as Rosenborg Castle and Christian IV’s Brewery.
Peder Griffenfeld: Peder Griffenfeld (24 August 1635 – 12 March 1699) was a Danish statesman and financier who served as the chief minister of Denmark-Norway in the 17th century. He implemented several financial reforms, such as the establishment of a national bank and the introduction of a paper currency, which helped to stabilize the economy and increase the power of the state. He also played a key role in the development of the Danish East India Company, which helped to increase the wealth of Denmark through trade with Asia.
These are just a few examples of the many businessmen who have made significant contributions to the field of finance throughout history.
They all became successful through a combination of business acumen, a strong work ethic, financial knowledge, a willingness to take risks, and an understanding of the industries they were involved in. Additionally, many of them were involved in industries that were experiencing rapid growth and expansion during the time they were building their fortunes, such as oil, steel, and banking. They were able to adapt to the changing times and market conditions. They were not only successful in their financial endeavors, but also had a lasting impact on the field of finance and economics.
The path to success is different for everyone, and these individuals had unique set of skills and experiences that helped them achieve their goals. It’s important to remember that success is always possible, and with hard work, perseverance and the ability to adapt to change, anyone can achieve their financial goals.
To emulate their success, one should start by developing a strong understanding of the industry they are interested in, and be willing to take risks and work hard to achieve their goals. Networking and building relationships with key people in the industry can also be beneficial. It is also important to be aware of the current market trends and opportunities for growth.
The path to success, wealth and fame is never easy, and it might require a lot of hard work, patience, and persistence. My examples are from historical figures, laws, regulations and general societal norms have changed, so what worked for them may not be applicable today, and some of the methods they used to amass their wealth may be considered unethical or illegal today.
