The Estonian police are concerned that a key figure in the billion-kroner Danske Bank money-laundering scandal has disappeared.
Aivar Rehe, 56, who headed Danske Bank’s branch in Estonia from 2006 to 2015, was last seen leaving his house in Tallinn at 10:00 on Monday morning. The police fear for his well-being and have been searching a wooded areas near his house.
The massive case is being investigated by authorities in several countries and Rehe has denied having any knowledge of it, although he accepted responsibility due to his position as head of the bank.
An estimated 1.5 trillion kroner was funneled through Danske Bank’s branch in Estonia on the way to other western banks by foreign clients between 2007 and 2015.
It has not yet been ascertained what proportion of that amount would be considered suspicious and fall into the money-laundering category, but the bank’s internal investigation indicated that it is a significant amount.
Some of the funds have reportedly been linked to Russian arms dealers and the regime in Azerbaijan.