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Socialist Nirvana Denmark: GDP $306 Billion Money Laundered: $230 Billion

Wall Street Journal 19 September 2018 No Comment

The scope of an already massive Russia-linked money laundering case swelled Wednesday when Denmark’s largest bank said more than $230 billion in transactions flowed through its tiny Estonian branch, a larger amount than previously reported.

Screenshot 2018-09-19 at 18.08.45

Danske Bank Chief Executive Thomas Borgen resigned as the bank published results of a yearlong investigation into how its operation in the Baltic former Soviet Republic turned into a hub for illicit flows out of Russia and other ex-Soviet states into the West. The report said a “large portion” of the transactions are suspected to be laundered money, but it said that after a year of studying the issue, it couldn’t determine how much.

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