Swedbank Chairman Resigns Amid Danske AML Scandal
Law360, London (April 5, 2019, 12:53 PM BST) -- A multibillion-dollar money laundering scandal in the Baltics claimed another executive at Swedbank after its chairman resigned on Friday amid allegations that the troubled lender processed transactions for Danske Bank in Estonia.
Lars Idermark stepped down from one of Sweden's largest lenders with immediate effect as authorities probe allegations of money laundering at the bank. He follows the bank's chief executive, who was fired last week.
Idermark, who was in his second stint as chairman after rejoining the board in 2016, said media scrutiny of the bank's potential involvement in suspicious money laundering in the Baltics had forced his hand.
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