Bill Browder, CEO of investment fund Hermitage Capital Management, on Wednesday filed a criminal complaint in Denmark against Danske Bank, which is suspected of Russian money laundering, Financial Times reports.
In his complaint to the Danish public prosecutor for special economic crimes and international crime, Browder alleges that at least 190 accounts were used to launder $203 million.
He claimed that this was linked to a $230 million fraud from the Russian Treasury uncovered by Serge Magnitsky, a Russian lawyer who later died in prison in November 2009. Browder is Magnitsky's former employer.
According to Browder, 16 accounts at Danske's Estonian branch were opened for shell vehicles that received more than $203 million connected to the fraud. A further five accounts at Danske received money from the 16 accounts, and those 21 accounts transacted with another 169 at Denmark's biggest lender.
Browder claims that the turnover from the 21 accounts totalled more than $9 billion.
Danske declined to comment on the complaint, as did the prosecutors.
Editor: Aili Vahtla