Swedbank Investors to Confront CEO as Laundering Case Grows
- Bank allegedly gave misleading information to U.S. authority
- Stockholm headquarters were raided as part of investigation
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Swedbank AB Chief Executive Officer Birgitte Bonnesen will face shareholders on Thursday in what is likely to be one of the stormiest meetings of her career, with three of the main investors signaling they’ve lost confidence in her.
The 62-year-old CEO’s job is on the line amid allegations the Swedish bank was used to funnel billions of dollars from the former Soviet Union into the West in a money laundering scandal centered on the Estonian operations of Danske Bank A/S. Bonnesen had vehemently denied any links until Swedish media reports forced her to backtrack last month.