International Investigation: Iceland’s Kaupthing Bank Alleged to have Manipulated Credit Derivatives

According to the guardian.co.uk the Serious Fraud Office (SFO) is investigating Kaupthing, the now bankrupt Icelandic bank. Kaupthing was Iceland’s largest company, but in October 2008 it failed, along with the other two major banks, Landsbanki and Glitnir. The SFO is said to be pursuing a number of allegations of market manipulation involving investment vehicles controlled by some of the bank’s largest clients, including several high profile UK business leaders.

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Icelandic MP Reveals Financial Support from big Business

Former Minister of Health, Gudlaugur Thór Thórdarson of the Independence Party, sent out a news release on Friday on his financial support in the 2006 primary campaign against Björn Bjarnason, then Minister of Justice. The report showed that Thórdarson got a total of 24.8 million ISK in campaign contributions, at the time 366 thousand USD or 280 thousand Euros.

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