The former head of Danske Bank's Estonian branch has been found dead near his home in Tallinn, months after numerous, wide-reaching money laundering cases were opened against the bank. 

Police had been searching for Aivar Rehe – a witness, not a suspect, in the investigations – since Monday, when the banker left his home in the Estonian capital.   

During the two-day search, which involved dogs, drones and dozens of volunteers scouring forests near Rehe's home, police said they did not suspect any third-party involvement in his disappearance.  

Rehe ran Danske Bank's Estonian branch between 2007-15, during which time suspicious payments totaling 200 billion euros ($220 billion) moved through its system. The huge sums – much of which originated from Russia – moving through such a small outlet sparked several investigations, including in the US, the UK, Estonia and Denmark, where the bank is based. 

Estonian prosecutors stated that Rehe was not a suspect in their investigation, launched in December 2018, which centered around allegations that 10 former bank employees laundered 300 million euros ($329 million). 

Police said the 56-year old's death would not be investigated.

Following the discovery, an Estonian police spokesperson said: "The body of Aivar Rehe, who had been missing since 23 September, was found near his home this morning. The site had been checked previously. There is no sign of violence to the body and no indication of an accident."

In a statement, Danske Bank said: "We are sad to receive the news that the former chief of our Estonian brand, Aivar Rehe, is dead. Our thoughts go out to the family.”