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(CNBC)   CEO of largest Danish bank steps down after money laundering allegations for the Russian government put him in a jam, made him look cheesy   ( divider line
    More: Obvious, Danske Bank, Bank, European Union, Danske Bank report, Estonian branch, United States, Money, money laundering  
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450 clicks; posted to Business » on 19 Sep 2018 at 12:50 PM (39 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

11 Comments     (+0 »)
View Voting Results: Smartest and Funniest
2018-09-19 11:20:22 AM  
Sounds like this guy is toast and if he ends up in jail will get buttered.
2018-09-19 12:52:31 PM  
"Sure I broke a dozen local and international laws but I quit my job, so we're cool right?"
2018-09-19 01:00:15 PM  
There's something rotten in the Bank of Denmark.
2018-09-19 01:01:10 PM  
That's quite a cookie of a situation.
2018-09-19 01:05:21 PM  
Just another western democratic insitution with the taint of Russian Oligarchs on it... nothing to see here.

Det er en heksejagt!
2018-09-19 01:46:53 PM  
I wonder how high his bonus for leaving is.

They laundered 234 billion between 2007 and 2015 through their Estonian branch. The GDP of Estonia is 23 billion per year.

So that's really impressive

/Yes, I'm aware money changes hands a farkton more often than once a year
//It's still impressive
///nobody in jail and got fined less than a billion, which I guess is less than what they made
2018-09-19 02:30:36 PM  
So...the Russian government accused him of money laundering?

Sounds to me like the Russian mob has a major rival ('Ndrangheta? Triads?) that is using this bank, or they're trying to get a Russian mob-friendly CEO installed, because there's no other way a mob-run kleptocracy would have a problem with what it does.
2018-09-19 03:35:04 PM  

lucksi: I wonder how high his bonus for leaving is.

12 million DKK, less than $ 2 million. He should bloody well be in jail.
2018-09-19 03:58:21 PM  
DeutscheBank points, laughs at the fact he got caught.

/DB is borderline a mob bank at this point
2018-09-20 03:10:08 PM  

wkndfrk: Sounds like this guy is toast and if he ends up in jail will get buttered.

No, he is innocent, but incompetent.

The main Danish board is supposed to have a clue what's going on in their Estonian branch. They didn't have those mechanisms in place it seems.
2018-09-20 03:17:14 PM  
Some years ago, a large Danish insurance company was going bankrupt.

So the Danish government decides to "bail it out", by having Danske Bank take it over (they're filthy rich).

Danske Bank said "sure, but we have these two Faroic banks that gave out loans at 110% of the value for fishing vessels, and now all the fish are gone. Give us a hand, ya?

Civil servants from the Danish government talks the Faroic Homerule into /purchasing/ these banks! They always want independence etc., so owning their own banks made them all giddy.

The Faroic Homerule later said "we were to stupid to understand all the documents, they took advantage of us".

Anyways, the banks promptly went bankrupt, and the Faroic economy, with the highest GDP per inhabitant in the world completely crashed. They're even more dependent on Denmark now.
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