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Tue Nov 25, 2014, 11:19 AM

Icelandic Bank Manager Involved in 2008 Financial Crash Sentenced to Prison

Editor | Iceland News | November 21, 2014



The former head of the Icelandic bank Landsbanki, which collapsed in 2008 in the Icesave crisis, Sigurjon Arnason, has been sentenced to one year in prison for market manipulation ahead of the 2008 Icelandic banking crisis. Two other former Landsbanki employees were convicted as well and a fourth former employee was acquitted. According to reports, the Reykjavik District Court reduced Arnason’s sentence to three months, saying that the remaining 9 months were suspended.

Bosses of two other failed Icelandic banks, Glitnir’s chief, Larus Welding, and Kaupthing bosses Hreidar Már Sigurdsson and Sigurdur Einarsson have also been convicted of similar crimes. Sigurdsson and Einarsson were sentenced to five and five and a half years in prison while Welding received 9 months with 6 months of the sentence suspended.

The three Icelandic banks were heavily exposed abroad. At the time, when the banks went bust, their combined assets were approximately ten times larger than Iceland’s gross domestic product...
MORE: http://upnorth.eu/icelandic-bank-manager-involved-2008-financial-crash-sentenced-prison/


Too big to Jail in the US? Jefferson rolls...

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Reply Icelandic Bank Manager Involved in 2008 Financial Crash Sentenced to Prison (Original post)
nationalize the fed Nov 2014 OP
Octafish Nov 2014 #1
hunter Nov 2014 #2
LineNew Reply ^
nationalize the fed Nov 2014 #3
Rex Nov 2014 #4

Response to nationalize the fed (Original post)

Tue Nov 25, 2014, 11:51 AM

1. Punish the Banksters?

What would Goldman think?

Thank you for the heads-up, nationalize the fed. What Iceland is doing to punish the crooks who looted their banks should be of interest to ABCNNBCBSFauxNutNoiseworks, but, for some reason, must not be newsworthy.

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Response to nationalize the fed (Original post)

Tue Nov 25, 2014, 11:58 AM

2. Sadly, the biggest criminals in that financial catastrophe are not in Iceland.

All Iceland can do is prosecute some of their lackeys.


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Response to nationalize the fed (Original post)

Tue Nov 25, 2014, 09:26 PM

4. Must be nice to live in a country that has equitable laws.

 

Maybe someday America will get the chance to do the same thing, but I doubt it.

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