Swedish Supreme Court acquits former Swedbank CEO Bonnesen in money laundering case

Swedish Supreme Court acquits former Swedbank CEO Bonnesen in Estonia money laundering case

Overview of the Bonnesen Money Laundering Case and Acquittal

Background and Initial Conviction

STOCKHOLM, April 21 (Reuters) - Sweden's Supreme Court on Tuesday acquitted former Swedbank CEO Birgitte Bonnesen over her handling of the bank's anti-money laundering work, overturning the guilty verdict of a lower court that had sentenced her to 15 months in prison.

An appeals court in 2024 found Bonnesen guilty of gross fraud over statements she made to the media in October 2018 regarding anti-money laundering measures at Swedbank's Estonian branch.

Prosecutors' Arguments

Prosecutors had argued that her statements gave misleading information to shareholders and the public - intentionally or through negligence - on the bank's measures to prevent, uncover and report suspicion of money laundering in the Baltic country.

Supreme Court Ruling and Reasoning

Freedom of Expression and Acquittal

But the Supreme Court, in a statement accompanying its verdict, said Bonnesen's answers to questions from reporters were covered by freedom of expression and that she had been "fully acquitted."

Court's Statement

"It has not in any way emerged that her purpose was to use the interviews as a means of disseminating misleading information that would affect the assessment of the bank in financial terms," the court said.

Timeline of Legal Proceedings

Bonnesen's Response and Previous Verdicts

Bonnesen, Swedbank's CEO from 2016 to 2019, had denied all charges against her.

In 2023, a Swedish district court found her not guilty of all accusations, but the appeals court the following year convicted her on one count while acquitting her on six other charges involving gross fraud and market manipulation.

Reporting Credits

(Reporting by Anna Ringstrom and Essi Lehto, editing by Terje Solsvik)