16 May 2019
Sweden has rejected an appeal from campaigning investor Bill Browder which had urged authorities to pursue a complaint alleging accounts at Swedbank were used to launder money, the Economic Crime Authority (EBM) said on Wednesday.
Browder’s complaint was originally filed in March and was dismissed a month later as the transfers involving Swedish accounts had occurred before tighter anti-money laundering legislation was introduced in 2014 and as the statute of limitations had expired in the case.
Browder appealed, but the EBM said it had rejected his appeal.
“It is correct that the EBM has decided not to change that decision,” a spokesman for the EBM said.
The CEO and chairman of Sweden’s oldest bank have both left as money laundering allegations have come under scrutiny from Baltic and U.S. authorities.
By Helena Soderpalm, Reuters, 15 May 2019
Read more at Reuters
You can claim CPD minutes for this content, by signing up to our CPD WalletFREE CPD Wallet