Seven former bankers receive sentences in Iceland By Kolbeinn Tumi Daðason 26. júní 2015 13:45 From left to right: Hreiðar Már Sigurðsson, Sigurður Einarsson and Ingólfur Helgason. Vísir Former bosses of the Icelandic bank Kaupthing were convicted today for market manipulation in the months leading up to the bank's collapse in the Reykjavik district court. Kaupthing itself was the largest buyer of its own shares on the open market according to the charge. During the time period in question, from November 2007 until October 2008 the purchases of the bank amounted to over 42% of the total turnover of shares in Kaupthing in the Icelandic Stock Exchange. Hreidar Mar Sigurdsson, the former chief executive, and Sigurdur Einarsson, former chairman of the board, were among those convicted but they are already doing time after receiving heavy sentences in the Al-Thani case this past February. Sigurdsson's sentence will however not be increased while one year was added to Einarsson's sentence in the Al-Thani case. He was sentenced to four years in the Al-Thani case so his sentence for both cases is in total five years.See also:Iceland jails former Kaupthing bosses Ingolfur Helgason, the former chief executive of Kaupthing in Iceland, was sentenced to four and a half years in prison. Bjarki Diego, managing director of the bank‘s loan division, received two and a half years. Magnus Gudmundsson, the former chief executive of the Luxembourg branch, who received a 4,5 year sentence this February, was found not guilty. Einar Palmi Sigmundsson, head of proprietary trading, received a two year suspended sentence. Petur Kristinn Gudmarsson and Birnir Saer Bjornsson, brokers working for the bank’s proprietary trading, received an 18 month suspended sentence. Björk Þórarinsdóttir, a former member of the loan committee of Kaupthing, was found not guilty. News in English Mest lesið Greindi þátt almennings og fjölmiðla í máli „strokufangans“ Innlent Sagður hafa tæmt sjóði flokksins og rekur nýja stjórn úr húsnæðinu Innlent Þúsundir syrgja í Tehran og Trump segir æðstaklerkinn ljúga Erlent Vonar að Rauði krossinn endurskoði afstöðu sína Innlent Halla forseti blandar sér í götuljósaumræðuna Innlent Handtóku ökumann eftir eftirför á Sæbraut Innlent Mikill viðbúnaður vegna eftirfarar á Sæbraut Innlent Reiða fram rúma milljón fyrir Jakub Innlent Segir ásakanir kjaftæði og íhugar meiðyrðamál Innlent „Þurfum að huga að forvörnum“ Fréttir
Former bosses of the Icelandic bank Kaupthing were convicted today for market manipulation in the months leading up to the bank's collapse in the Reykjavik district court. Kaupthing itself was the largest buyer of its own shares on the open market according to the charge. During the time period in question, from November 2007 until October 2008 the purchases of the bank amounted to over 42% of the total turnover of shares in Kaupthing in the Icelandic Stock Exchange. Hreidar Mar Sigurdsson, the former chief executive, and Sigurdur Einarsson, former chairman of the board, were among those convicted but they are already doing time after receiving heavy sentences in the Al-Thani case this past February. Sigurdsson's sentence will however not be increased while one year was added to Einarsson's sentence in the Al-Thani case. He was sentenced to four years in the Al-Thani case so his sentence for both cases is in total five years.See also:Iceland jails former Kaupthing bosses Ingolfur Helgason, the former chief executive of Kaupthing in Iceland, was sentenced to four and a half years in prison. Bjarki Diego, managing director of the bank‘s loan division, received two and a half years. Magnus Gudmundsson, the former chief executive of the Luxembourg branch, who received a 4,5 year sentence this February, was found not guilty. Einar Palmi Sigmundsson, head of proprietary trading, received a two year suspended sentence. Petur Kristinn Gudmarsson and Birnir Saer Bjornsson, brokers working for the bank’s proprietary trading, received an 18 month suspended sentence. Björk Þórarinsdóttir, a former member of the loan committee of Kaupthing, was found not guilty.
News in English Mest lesið Greindi þátt almennings og fjölmiðla í máli „strokufangans“ Innlent Sagður hafa tæmt sjóði flokksins og rekur nýja stjórn úr húsnæðinu Innlent Þúsundir syrgja í Tehran og Trump segir æðstaklerkinn ljúga Erlent Vonar að Rauði krossinn endurskoði afstöðu sína Innlent Halla forseti blandar sér í götuljósaumræðuna Innlent Handtóku ökumann eftir eftirför á Sæbraut Innlent Mikill viðbúnaður vegna eftirfarar á Sæbraut Innlent Reiða fram rúma milljón fyrir Jakub Innlent Segir ásakanir kjaftæði og íhugar meiðyrðamál Innlent „Þurfum að huga að forvörnum“ Fréttir