The largest bank in Denmark, Danske Bank, has pleaded guilty to defrauding American banks and will forfeit $2 billion, the Department of Justice announced on Dec. 13.
Danske Bank pleaded guilty in the United States to one count of conspiracy to commit bank fraud and agreed to forfeit $2.059 billion.
It also agreed to a separate settlement with the U.S. Securities and Exchange Commission (SEC) and will pay approximately $413 million to settle charges, which includes a civil monetary penalty of $178.6 million, officials said. The bank also settled with Danish authorities.
Of the $2 billion, the DOJ said it will credit $850 million to resolve the SEC and Danish probes….