Nokia reportedly involved in money laundering scheme worth nearly 100 million dollars

The Finnish telecommunications giant Nokia is mentioned as one of the recipients relating to money laundering allegations against Nordea Bank Abp. The Nordea Bank scandal was brought up by Bill Browder, chief executive of Hermitage Capital Management, alleging that the bank is/was involved in a money laundering scheme.

Mr. Browder identified Nokia as the biggest recipient of the laundered money worth 97.2 million dollars. Bloomberg contacted Nokia that said: “Nokia takes such allegations very seriously, but as we have not yet seen the claims by Mr. Browder, we cannot comment on the contents,” spokesman Brett Young said. He said the allegations appear to be related to Nokia’s mobile-phone business, which it divested in 2014, and are thus “unrelated to our current operations.”

I’m no expert in Finnish law or money laundering schemes so I suggest you to read Bloomberg’s article about Nokia and/or FT’s article about the Nordea scandal if you want to learn more. An official complaint was submitted to the authorities in Finland and we will see how the situation develops from there.