Swedbank raided as money laundering probe gathers pace - Financial Times

Swedish prosecutors have raided Swedbank as a money laundering investigation into the largest lender in the Baltics gathers pace.

The Swedish Economic Crime Authority said on Wednesday that it had begun a raid in connection with a probe into whether Swedbank broke insider information rules by disclosing to its largest shareholders that a TV programme on money laundering allegations was about to be broadcast.

Swedbank’s shares, already under pressure following a series of revelations about possible money laundering, fell as much as 7.7 per cent on Wednesday after news of the raid.

Prosecutors told the Financial Times they hoped to provide more information, including whether the investigation could be widened, later in the day when the raid was concluded.

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https://www.ft.com/content/acc757b0-507a-11e9-b401-8d9ef1626294

2019-03-27 10:31:00Z
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