Danske’s Ex-CEO Borgen Acquitted in $325 Million Civil Case

Danske Bank A/S’s former chief executive officer, Thomas Borgen, was acquitted in a civil case where shareholders had sought 2.4 billion kroner ($325 million) related to his role in the Danish lender’s money laundering scandal.

Borgen had no knowledge in 2014 about the laundering scandal that he was obligated then to disclose to shareholders, said the Danish court in Lyngby, north of Copenhagen, according to a statement on Tuesday.

Thomas Borgen arrives at court in Lyngby, Denmark, on Sept. 26.

Photographer: Ida Marie Odgaard/Ritzau Scanpix/AFP/Getty Images

The ruling is a relief for Borgen, after criminal charges against him were droppedalready last year by Danish authorities.

Copenhagen-based Danske said last month it’s close to ...