Danske Bank Forfeits $2 Billion After Pleading Guilty to Fraud

An agreement by Danske Bank A/S to pay $2 billion to end a long-running US probe into money laundering through its Estonia branch was approved by a judge, resolving criminal liability for the bank’s worst scandal in recent history.

The Danish lender pleaded guilty in December to conspiring to commit bank fraud. The bank admitted it provided services to suspicious customers, including in Russia, through its branch in the Baltic nation, despite knowing of the money laundering risks, according to the US Justice Department.

Read about the agreement here

The Copenhagen-based bank was formally sentenced Thursday by US District ...