Estonian branch of Danske Bank handled $30bn of Russian money
Up to $30bn was parked in Danske’s Estonian branch by non-residents in 2013.
Danske Bank is caught on laundering $30bn of Russian and ex-Soviet money through its Estonian branch in a single year, Financial Times reports citing the report by Promontory Financial consulting company.
The report states that up to $30bn was parked in Danske’s Estonian branch by non-residents in 2013, the peak year of a scandal that lasted from 2007 until 2015. A person close to the investigation stated that “It’s a truly breathtaking amount for such a small branch. You can’t have that amount flowing through without it raising questions.” The bank has already initiated an internal check.
Earlier, the Estonian prosecutor's office initiated an investigation into the complaint of Bill Browder, a financier and founder of the Hermitage Capital foundation. He convicted employees of the Estonian branch of Danske Bank in facilitating money laundering.
Attorney General of Estonia announced that 26 employees of the Estonian branch of the bank are currently under investigation. They, according to Estonian law enforcement agencies, created a criminal group engaged in money laundering, through which $13 billion could be transferred.
It concerns entrepreneur Dmitry Motorin, Boris Usherovich, a co-owner of the Group of Companies 1520, and Novoe Vremya board member, Ivan Stankevich. Motorin is accused of giving a bribe on an especially large scale, and Stankevich and Usherovich are charged with bribe-taking.
This week, the judicial debates in the trial of Vladimir Barsukov-Kumarin charged with creation of Tambovskie organized criminal group have been finished in the Kuibyshevsky District Court of St. Petersburg. If the court upholds the stance of the state prosecution, the once-influential criminal ‘authority’ may be convicted to almost 25 years behind bars. In reality, this translates into a life term for the legend of criminal St. Petersburg.