Assets of Tycoons in Iceland to Be Frozen Skip to content

Assets of Tycoons in Iceland to Be Frozen

The assets of businessmen Jón Ásgeir Jóhannesson and Hannes Smárason in Iceland will likely be frozen in relation to the tax authority’s investigation of their affairs and the affairs of the companies they were in charge of.

Jón Ásgeir Jóhannesson.

Hannes Smárason. Photos by Páll Stefánsson.

According to, this story will be reported in the weekly business newspaper Vidskiptabladid tomorrow.

Vidskiptabladid’s sources reveal that the assets that will be frozen are worth hundreds of millions of ISK. The newspaper states that Minister of Finance Steingrímur J. Sigfússon had indicated that these measures would be taken after a cabinet meeting on Friday.

On Friday Sigfússon was asked whether he planned to do something to prevent the main players of the economic collapse from regaining control of their companies.

Sigfússon replied that the tax authority was conducting extensive investigation that is related to many of these individuals. Charges will likely be filed soon and the assets of suspects frozen, the minister said.

Click here to read about the tax evasion that took place at the Icelandic banks before their collapse.

Click here to read more about the affairs of Jón Ásgeir Jóhannesson and here to read a recent story about Hannes Smárason.

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