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Former bank boss found dead amid money laundering probe

Aivar Rehe was a witness, not a suspect, in an investigation involving the Estonian branch of Danske Bank.

Aivar Rehe
Image: Aivar Rehe was found dead after going missing
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The body of a former head of Danske Bank's Estonian branch has been found after he went missing amid money laundering allegations.

Aivar Rehe had been missing since Monday, after leaving his home in Tallinn, Estonia.

Danske Bank is under investigation in the United States, Denmark, Britain and Estonia over suspicious payments totalling €200bn (£178bn) which went through its tiny Estonian branch between 2007 and 2015.

Mr Rehe, 56, was in charge of the Estonian business during this time, and was a witness in the investigation.

A police statement said: "There are no signs of violence on the corpse, and there is no indication of an accident.

"There will be no investigation opened."

His body was found near his home, officers said.

More on Estonia

A spokesman for Estonian prosecutors said Mr Rehe was a witness, not a suspect, in the case which was opened in December 2018, against 10 former Danske Bank employees.

Valdo Poder, operations chief of the Northern Police Prefecture, told the public broadcaster ERR that all evidence gathered pointed to suicide at this stage.

The search for Mr Rehe involved dogs, drones and volunteers before his body was found.

This picture taken on September 25, 2018 shows a general view of the 'Danske Bank' in Copenhagen, Denmark. - Danske Bank said on October 4, 2018 it was being investigated by the US Department of Justice over possible money laundering related to more than $200 billion transferred through the Danish lender's Estonian branch. (Photo by Mads Claus Rasmussen / Ritzau Scanpix / AFP) / Denmark OUT        (Photo credit should read MADS CLAUS RASMUSSEN/AFP/Getty Images)
Image: Danske Bank's Estonian branch activities are under investigation

In an interview with Estonian newspaper Postimees in March, Mr Rehe said he felt responsible, but that he believed the anti-money laundering mechanisms at the time were adequate.

He was last questioned by prosecutors about a year ago.

His disappearance was said not to affect the investigation.

In September 2018, Thomas Borgen, who was the bank's chief executive officer, resigned after Danske Bank admitted the majority of the cash was flowing illegally from Russia and the UK.

Borgen was subsequently charged with money laundering.

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