Nick chats to the Swedish Axel Gordh Humlesjö, the award-winnning Swedish investigative journalist and author about Vladamir Putin's agents have corrupted the West's banking system to fund the an illegal and genocidal war against Ukraine and their own fraudulently funded life-styles.

Axel @axelhumlesjo co-authored The Honey Trap, a book that exposed how Putin's Kremlin laundered billions through one of Sweden's most important banks - Swedbank - initially by using honeytrap sex agents to gain Kompromat on senior bank executives.

The astonishing story of the corruption of Swedbank - often described as "the most Swedish of Swedish banks" - sheds a bright light on how the Russian state has targeted banks in the West to launder money, by-pass sanctions and fund its war against Ukraine. It's how Putin and his oligarch cronies effectively turned London into "Londongrad". It has enabled the Kremlin to gain astonishing influence over large parts of Europe's financial systems and to undermine the foundations of the West itself.

Axel explains to Nick @NickCohen4 how a lot a lot of the money has been funnelled through banks, different kinds of shady, companies and dodgy offshore accounts. Russia has then used this money in a range of different ways - trying to influence political elections and referendums and funding extremist parties. Even now Russia - yet again - is thought to be using it resources to secure the election of Donald Trump as president. Putin is desperate for his stooge to be back in the White House - confident Trump will do his bidding and betray Ukraine and force it to accept surrender on Russia's ignominious and dangerous terms.

Even more tragically though, Russia's state kelptocrats have even funnelled money from the people of Ukraine and others to line their own their own pockets and use it to by-pass sanctions and fund the Russian war machine.

Danske Bank - the largest bank in Denmark was also used by Russian entities in what was described as the world's biggest ever money laundering scandal.Almost €1 trillion of suspicious transactions flowed from Estonian, Russian, Latvian and other sources through the Estonia bank branch of Danske Bank from 2007 to 2015. In December 2022, Danske Bank pleaded guilty and agreed to a $2 billion fine in a case from the US Department of Justice.

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Swedish authorities are also starting to mete out punishment to the executives who destroyed Swedbank - including former chief executive Birgitte Bonnensen who the Swedish Appeal Court sentenced last month to 15 months in prison for gross fraud. But the damage to the West - it security and financial systems - is long-standing.

The Honey Trap, Swedbank, Russia and the World's Biggest Money Laundering Scheme by Axel and his colleague Lars Berge was described by the respected author of Putin's People and Washington Post journalist Catherine Belton as " A fantastic, page-turning book about how Russian intelligence infiltrated Sweden’s biggest bank and used it as a vehicle for money laundering. It is one of the most gripping spy adventures I’ve read..."

Nick Cohen's @NichCohen4 regular Substack column Writing from London on politics and culture from the UK and beyond is another must-read.

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