Estonian police searching for ex-head of local Danske Bank unit

Estonian police searching for ex-head of local Danske Bank unit
By bne IntelliNews September 24, 2019

Estonia’s Police and Border Guard Board (PPA) have launched a search for the former head of Danske Bank in Estonia, Aivar Rehe. 

Rehe was appointed to head Danske Estonia in 2006 and was in charge of the bank between 2007 and 2015, during which time the branch was revealed to have funnelled billions of euros in a massive breach of national and EU anti-money-laundering regulations.

According to police, Rehe was last seen at around 10am local time on September 23, when he left his home in Tallinn’s Pirita district, local media reported. 

Valdo Poder of the PPA's Northern Prefecture told told ERR that Rehe often walked his dog at around that time, but left his dog at home on September 23. His mobile phone was also found at his home. Rehe’s family said they have no idea as to his whereabouts. 

Poder also told ETV current affairs show Aktuaalne kaamera that the police “have reason to believe that his life and health may be in jeopardy at this time”. 

Following numerous reports in the Danish and UK media, Danske Bank admitted last September that an estimated €200bn worth of payments went through its Estonian branch between 2007 and 2015, many of them suspicious.

In February, the Estonian authorities ordered the Danish bank to shut down its Estonian operations, giving it eight months to complete the closure. 

Danske Bank announced on the same day it would also be closing its branches in Lithuania, Latvia, and Russia. That is because of the bank’s strategy to focus on Nordic markets, the bank said.