Welcome

Swedbank’s Fired CEO Bonnesen May Face Prison After Fraud Charge

Jan. 4, 2022, 3:14 PM

Swedbank AB’s former chief executive officer, Birgitte Bonnesen, could face a prison sentence for misleading the public on the seriousness of a $155 billion dirty-money affair involving the bank.

Bonnesen was charged with serious fraud by the Swedish Economic Crime Authority, a crime that carries a sentence of six months to six years in prison, as well as other offenses. She had been fired as the CEO in March 2019 amid concerns she hid the severity of money-laundering case that triggered multiple investigations into the Stockholm-based bank, including in the U.S.

The Nordic-wide banking scandal centered on allegations ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.