9/19/2018, 9:18 AM (Source: TeleTrader)
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Danske Bank CEO quits amid money laundering scandal

Danske Bank CEO Thomas Borgen stepped down on Wednesday after the bank's investigation led by Bruun & Hjejle law firm concluded its Estonian branch was used for money laundering.

"It is clear that Danske Bank has failed to live up to its responsibility in the case of possible money laundering in Estonia. I deeply regret this," Borgen stated. "Even though the investigation conducted by the external law firm concludes that I have lived up to my legal obligations, I believe that it is best for all parties that I resign," he added.

Last week, United States authorities launched a probe into Danske Bank over its alleged involvement in money laundering in Estonia.

Baha Breaking the News (BBN) / NP