The Estonian Financial Supervision Authority has initiated an investigation into the relationships between Coop Bank and JMV automotive, as reported by Äripäev. This inquiry, which began last year, raised questions about the internal affairs of Coop Bank, particularly concerning how the bank was attempting to fulfil the financial desires of shareholder Andres Sonni related to JMV's automotive ventures in Estonia. Reports emerged of leaked internal correspondence revealing attempts to finance JMV’s operations with the help of Sonni's company, Eurex Finants.

The documented relationships between Sonni, who owns publicly traded Coop Bank, and the founders of JMV date back to 2016, tied to an investment in their real estate projects. The leaked correspondence also indicated that there was an intention from the bank not to register itself as the owner of vehicles in the Czech registry. The implications of this investigation could potentially affect the credibility of Coop Bank as well as the operations of JMV in the automotive market, drawing attention to the integrity of financial transactions between the bank and affiliated businesses.

The investigation highlights an ongoing scrutiny within Estonia’s financial sectors, where regulatory bodies are keen to ensure that banks do not engage in questionable financial practices. The outcome of the inquiry could lead to stricter regulations, affecting how banks interact with other businesses in the future, particularly in financing scenarios where corporate interests intersect with banking operations.