25 Oct 2018
British-based businessman Bill Browder has reportedly accused Nordea Bank of processing $405 million is suspicious funds, adding more details about the banks he alleges helped launder dirty money from Russia.
Nordea is listed in a criminal complaint filed to Finish authorities, Bloomberg said, adding that Finland’s National Bureau of Investigation has confirmed the development.
“Browder said he couldn’t rule out that further evidence of illicit flows through Nordea may yet emerge” Bloomberg said.
Nordea said it is aware of Browder’s complaint.
Browder, who was at one time a leading investor in Russia, says hundreds of millions of dirty cash has been moved from Russia to various parts of the world.
His firm highlighted a $230 million fraud while it was based in Russia, a case which was linked to the brutal death of lawyer and accountant Sergei Magnitsky.
Browder’s accusations against Nordea follows a growing number of allegations that illicit cash was moved from Russia and processed by various banks in eastern and western Europe.
Danske Bank has recently admitted that around 200 billion euros ($234 billion) of suspicious money was processed over an eight-year period, the issue has been deemed the ‘biggest scandal’ in Europe.
A significant part of this money is believed to have originated from Russia.
You can claim CPD minutes for reading this article, by signing up to our CPD WalletFREE CPD Wallet