A Banker Reveals the Bonus Culture Behind a $220 Billion Scandal
Workers remove Danske signage and carry it to a trailer at the former Danske Bank A/S branch in Tallinn, Estonia, on Oct. 5.
Photographer: Peti Kollanyi/BloombergThis article is for subscribers only.
Between 2009 and 2015, Mihhail Murnikov spent his days handling as many transactions as he could at the non-resident unit of Danske Bank A/S in Estonia.
Roughly a year after Danske admitted that those transactions were part of a $220 billion money laundering scandal, prosecutors from Tallinn to Washington D.C. are still trying to get to the bottom of what really happened. The Danske case recently made headlines again after the man who used to run the bank’s Estonian operations committed suicide.