By Chris Newlands
Wikimedia Commons/Finn Årup Nielsen
The former head of Danske Bank /zigman2/quotes/209678580/delayed DK:DANSKE -1.04% in Estonia has been found dead after he disappeared from his home on Monday morning.
Local police said they have found the body of Aivar Rehe, who was chief executive of the Danske Bank branch at the center of a $230bn money-laundering scandal, after a two-day search, according to a report from Estonian public broadcaster ERR . Rehe left the bank in 2015.
Danske Bank declined to comment.
Rehe, who oversaw the Danish bank’s branch in the Baltic nation from 2007 to 2015, had been missing since leaving his home two days ago.
According to ERR, the 56-year-old left his home in the Pirita district of Tallinn at around 10 a.m. on Monday and had not been seen since. The local police said that no third party was thought to be involved in his disappearance. According to ERR’s information, Rehe’s body was found in his own backyard.
The Danish bank is being investigated in Estonia, the U.S., Denmark, the U.K. and France for handling billions of dollars that flowed through its Estonian branch on behalf of nonresidents from Russia and other former Soviet states between 2007 and 2015.
In February, the Estonian regulator told Danske to shut a longstanding branch in Tallinn within eight months and repay, in full, the deposits of its customers.
Rehe wasn’t a suspect in the laundering investigations and wasn’t among a group of Estonian bankers detained by police last year. In an interview with local media in March, Rehe said that as the CEO of the Estonian branch he felt “responsible” for the scandal.
The Danish and Estonian police were contacted for comment.