CEO says crime unit’s search of Swedbank HQ part of ongoing inquiry

March 27 () – Swedbank Chief Executive Birgitte Bonnesen said on Wednesday that a search of its head office by Sweden’s Economic Crime Authority (EBM) was part of a previously announced investigation. The authority launched an inquiry into Swedbank in February over allegations the Swedish bank informed some investors of a news report linking the bank to a Baltic money-laundering scandal before the information was made public. “We will cooperate with EBM and we await the conclusions of the authority,” Bonnesen said in a statement. Separately, the EBM said it had widened its ongoing probe to include suspected aggravated fraud after the raiding the bank’s head office on Wednesday. “All in all the information paints a picture of Swedbank appearing to have spread misleading information to the public and the market about what the bank knew about suspected money laundering within Swedbank in the Baltic States,” the EBM said. (Reporting by Bhargav Acharya in Bengaluru; Editing by Alexander Smith)Our Standards:The Thomson Trust Principles.