The former head of Danske Bank’s Estonian unit has been found dead near his home after being missing for two days, local police have said.

Aivar Rehe led the scandal-hit branch that is at the centre of a major money-laundering case.

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“There are no signs of violence on the corpse, and there is no indication of an accident … There will be no investigation opened,” police said in a statement.

The former chief went missing on Monday morning at around 10am, Danish broadcaster DR reported.

Police, with dogs and drones, have been searching an area in the Pirita district, north of Estonia’s capital Tallinn.

He led the Danish bank’s Estonian unit from 2006 to 2015, a period when authorities claim huge sums were laundered through the branch.

The €200bn (£177bn) scandal has claimed the heads of Danske’s chief executive and chairman.

Rehe was a witness in the case, but not a suspect, a spokesperson for the Estonian prosecutor’s office told Reuters.

Authorities in Denmark, the US, Estonia and the UK have all opened investigations into what happened at the bank.

Danske itself has identified suspicious transactions and accounts. Several of its employees have been charged.

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Today new chief executive Chris Vogelzang said trust in the well-known high street name in Denmark has declined.

“At Danske Bank we talk a lot about rebuilding trust, because our trust has collapsed,” he said at an event in Copenhagen earlier.