Former Swedbank CEO Jailed For 'Swindling' [Barron's]
SWEDBANK AB S/ADR (SWDBY)
NASDAQ:AMEX Investor Relations:
swedbank.com/investor-relations
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Source: Barrons
Birgitte Bonnesen was found guilty of "gross swindling". Her lawyer, Per Samuelsson, told Swedish news agency TT he was "in shock" over the conviction and would file an appeal. The Svea Court of Appeal overturned a district court ruling from 2023, which had acquitted Bonnesen, and comes five years after the eruption of a money laundering scandal implicating Swedbank. In 2019, Swedish public service broadcaster SVT alleged that at least 40 billion kronor (equivalent at the time to $4.4 billion) of suspicious and high-risk transactions had been channelled to Baltic countries, notably Estonia, from Swedbank accounts. The revelations, which saw the bank's share price tumble, led to Bonnesen being fired. The following year, Sweden's financial regulator fined the bank four billion kronor and warned it to follow anti-money laundering laws. Prosecutors later charged Bonnesen, accusing her of "intentionally or by aggravated negligence" providing false or misleading information abo
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