Finnish Police Won't Probe Nordea Money Laundering Claim

Law360, London (June 12, 2019, 2:16 AM BST) -- Nordic lender Nordea has avoided an investigation over allegations of money laundering made by activist investor Bill Browder’s Hermitage Capital after Finnish police said Tuesday there is no reason to suspect an offense has taken place.

Hermitage Capital Management Ltd., an investment fund founded by Browder, in October requested an investigation into transfers of approximately $234 million of funds to corporate customer accounts at Nordea Bank PLC from Danske Bank AS’ Estonian branch and Ukio Bank in Lithuania. 

But Finnish police said they would not start a formal probe, saying a preliminary investigation by the National Bureau of Investigation in Helsinki...

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