(Bloomberg) -- A Danish court found two people guilty of being part of a scheme to use Danske Bank A/S’s unit in Estonia to launder as much as 29 billion kroner ($4.2 billion), the latest development in what was one of Europe’s biggest dirty money scams. 

The Copenhagen City Court sentenced a woman to nine years of prison and a man to seven years, according to a ruling posted Friday and linked to a verdict from 2022 in which a Lithuanian national was jailed for eight years. The two weren’t identified by name.

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The woman operated as many as 40 companies out of Copenhagen, which all had accounts in Estonia and were owned by foreigners. The man acted as a dummy director in most of the firms. The court said the two were aware that transactions at the companies occurring from 2008 to 2016 possibly were acts of laundering.

“It wasn’t proved nor attempted to be proved that the sums the companies received and transferred came from criminal matters,” the court ruling said. “But based on the information about the companies and the transactions on their accounts, the court assumed the transactions had the characteristics of money laundering.”

Denmark’s largest lender settled in late 2022 a $2 billion fine with US and Danish authorities after it was revealed that a large part of 200 billion euros ($220 billion) of transactions through its Estonian branch were suspicious.

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