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Nordic Watchdogs Examining $175M Dirty Money Claims

Law360, London (October 17, 2018, 5:30 PM BST) -- Economic crime agencies in three Scandinavian countries said Wednesday they have been handed documents alleging that dirty money may have flowed through the region's biggest lender, Nordea Bank AB.

Sweden’s Economic Crime Authority confirmed it has received documents from an asset manager, Hermitage Capital Management. The firm's chief executive, Bill Browder, said Hermitage has submitted evidence to authorities in Sweden, Denmark and Norway that alleges the bank has received $175 million of potentially illicit Russian funds through shell companies.

A spokesman for the Swedish authority confirmed it had received the claim and was evaluating what should happen next.

Browder, who is based in...

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