• tal@lemmy.today
      link
      fedilink
      English
      arrow-up
      9
      arrow-down
      1
      ·
      2 months ago

      That’s not really what this is about, from reading the article. That is, the charges are not for the laundering itself.

      Rather, they are for making misleading statements in two interviews that caused investors to over-value the bank, which exposed then to loss.

      But to mislead is not enough to commit swindling, Johannisson stressed. What made the difference is the financial damage that her misleading statements caused.

      When Swedish Television’s investigative flagship “Mission: Investigate” later published leaked information showing suspicious clients funneling tens of billions of dollars through the bank, Swedbank’s share plunged on the Stockholm Stock Exchange, resulting in substantial losses for the shareholders.

      The case has not been about whether money was actually found to be laundered through the bank, but how the CEO claimed that the bank handled such apparent risk.

      This particular sentence isn’t aimed at deterring banks from laundering money. I don’t even know if the CEO is personally criminally liable for that. It’s aimed at deterring people running companies from making statements about them that would mislead investors. Important if you want your country to be a desirable place to do investment.

      • skillissuer@discuss.tchncs.de
        link
        fedilink
        English
        arrow-up
        7
        arrow-down
        1
        ·
        2 months ago

        so her fault was fucking with rich people’s money, not doing what caused actual societal harm, got it. see also: martin shkreli

  • Media Bias Fact Checker@lemmy.worldB
    link
    fedilink
    English
    arrow-up
    4
    arrow-down
    8
    ·
    2 months ago
    The Organized Crime and Corruption Reporting Project (OCCRP) - News Source Context (Click to view Full Report)

    Information for The Organized Crime and Corruption Reporting Project (OCCRP):

    MBFC: Left-Center - Credibility: High - Factual Reporting: Mostly Factual - United States of America
    Wikipedia about this source

    Search topics on Ground.News

    https://www.occrp.org/en/news/swedish-court-sends-ex-ceo-of-swedbank-to-prison

    Media Bias Fact Check | bot support