Danske Bank Fined $2 Billion After Guilty Fraud Plea (4)

Danske Bank A/S admitted to fraud and will pay $2 billion to end a long-running US probe into money laundering at its Estonia branch, helping draw a line under the worst scandal in the bank’s recent history.

The Danish lender pleaded guilty Tuesday to conspiring to commit bank fraud and admitted providing banking services to suspicious customers — including in Russia — through its Estonian branch, despite knowing of the money laundering risks, the US Justice Department said in a statement.

Danske is working to move past a scandal that wiped out top management and saw thousands of customers leave ...