News

A portion of funds from a massive tax fraud in Russia that moved throughout Europe before terminating at Danske Bank in Estonia also transited through ABLV, which collapsed in February under the weight of a U.S. designation, a U.K. investor has alleged. In a 22-page complaint, Bill Browder, head of Hermitage Capital Management, asked Danish authorities to investigate Danske Bank managers he claims helped launder most of the $230 million in tax rebates fraudulently claimed by members of the Klyuev Organized Crime Group in Russia with the help of officials in the Russian Treasury. The complaint, first reported by the...