Ex-Swedbank CEO Acquitted: Supreme Court Overturns Money Laundering Verdict
Swedbank's former CEO, Birgitte Bonnesen, was acquitted by Sweden's Supreme Court of charges related to her handling of the bank's anti-money laundering efforts. The ruling overturned a prior guilty verdict by a lower court, which had sentenced her to 15 months in prison based on fraud allegations.
In a significant legal turn, Sweden's Supreme Court has acquitted Birgitte Bonnesen, Swedbank's former CEO, annulling a previous conviction over her handling of anti-money laundering processes. Her earlier sentence of 15 months for gross fraud, pertaining to 2018 statements about the bank's Estonian branch, has been overturned.
The appeals court's 2024 conviction claimed Bonnesen misled shareholders and the public regarding Swedbank's money laundering deterrent efforts. Yet, the Supreme Court clarified that her comments fell under freedom of expression and were not intended to spread misinformation influencing financial assessments of the bank.
Having been Swedbank's CEO from 2016 to 2019, Bonnesen consistently denied all charges. While an appeals court found her guilty on one count last year, the Supreme Court's plenary decision brings closure to a high-profile banking scandal in Sweden.
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Swedbank Scandal: Former CEO Birgitte Bonnesen Acquitted by Supreme Court
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