Danske Bank News & Case Updates: Global Money Laundering Scandal

Investor Update: ISAF-Danske Litigation October 2020 Client Update

By isaf-management.administrator | October 20, 2020

On 27 December 2019, the institutional shareholder-driven coalition represented by the International Securities Associations and Foundations Management Company for Damaged Danske Investors (ISAF-Danske) made its first filing of a lawsuit against Danske Bank in the District Court of Copenhagen. Danske Bank in Estonia was used in connection with one on the largest money laundering schemes in history…

Article: Risk of money-laundering fine for Danske unchanged despite court victory in US

By isaf-management.administrator | September 14, 2020

A U.S. judge’s decision to dismiss a securities fraud class action against Danske Bank A/S related to a large-scale money-laundering scandal may be a relief for Denmark’s largest lender, but it does not reduce the risk of a fine from U.S. or European authorities, according to legal experts. Nor is the decision likely to impact…

Article: Danske Bank Is Reported to Police for Market Manipulation

By isaf-management.administrator | June 11, 2020

Denmark’s financial watchdog has reported Danske Bank A/S to police for violating regulations designed to protect investors from market manipulation. Denmark’s biggest bank routinely entered into agreements to buy or sell financial instruments without any change in ownership of the securities, the Financial Supervisory Authority in Copenhagen said on Wednesday. “Danske Bank has clearly had insufficient oversight…

Article: Swedish rival rejected Danske Bank’s “pile of dirty customers”

By Kevin Doyle | May 1, 2020

Swedish rival rejected Danske Bank’s “pile of dirty customers”. Linked to drug dealing and arms smuggling Swedish money laundering report shows completely new and bleak details about Danske Bank’s money laundering case. Customers in the Estonian branch could be linked to harsh crime and were so suspicious that not even the competitor Swedbank, which has…

Article: KLP sues Danske Bank after scandal deals €12m blow to shareholding

By isaf-management.administrator | January 28, 2020

Norway’s Kommunal landspensjonskasse (KLP) has confirmed it has joined one of the many investor lawsuits now underway to seek compensation from Denmark’s biggest bank after a huge money-laundering scandal halved the value of its shares in two years. KLP is one of 63 plaintiffs in a writ submitted on 27 December 2019 in the Copenhagen…

Article: Danske Sued by International Investors Over Money Laundering

By isaf-management.administrator | December 29, 2019

A group of international investors managing trillions of dollars in assets has filed what it says is the first in a series of lawsuits against Danske Bank in connection with the money laundering scandal engulfing Denmark’s largest lender. The writ, which was filed on Friday in the District Court of Copenhagen by law firm Nemeth Sigetty Advokatpartnerselskab,…

Article: More Investors Sue Danske Bank for Alleged Money Laundering

By isaf-management.administrator | December 27, 2019

COPENHAGEN — About 60 investors have sued Danske Bank for 1.5 billion crowns (£171.46 million) over alleged money laundering, their lawyers said on Friday, the third such case to hit Denmark’s biggest lender. Danske Bank said it would defend itself against the lawsuit and that it had no information about the timing of the case.…

Institutional Investor Group From Across 16 Countries Announces Its First Filing of More Than One Billion DKK Initial Lawsuit in a Series of Planned Filings Against Danske Bank A/S

By isaf-management.administrator | December 27, 2019

The ISAF Coalition for Damaged Danske Bank Investors is suing Danske Bank for failing to disclose both Financial and Regulatory material risks, as required under Danish Capital Markets law. COPENHAGEN, Denmark–(BUSINESS WIRE)–An institutional shareholder-driven coalition represented via the International Securities Associations and Foundations Management Company for Damaged Danske Investors (ISAF-Danske), announces its first filing of a…

Article: Ten former Danske Bank managers charged over Estonia case: Berlingske

By isaf-management.administrator | May 9, 2019

COPENHAGEN (Reuters) – Danish prosecutors have charged 10 former Danske Bank managers over their suspected involvement in one of the world’s biggest money laundering scandals, newspaper Berlingske reported on Wednesday, citing unidentified sources. The charges relate to a case involving some 200 billion euros ($224 billion) of suspicious transactions that passed through Danske Bank’s Estonian…

Article: Danske Says Bank Has Excess Capital to Reward Shareholders

By isaf-management.administrator | May 7, 2019

Danske Bank A/S has built up enough extra capital to commit to dividends and, at the end of this year, will look into the option of resuming share buybacks. Christian Baltzer, who started as chief financial officer at Denmark’s biggest bank in October, pointed to capital buffers that exceed both regulatory requirements and the bank’s own…

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