Custody Confirmed over Former Landsbanki CEO Skip to content

Custody Confirmed over Former Landsbanki CEO

The Supreme Court of Iceland confirmed yesterday the verdict of Reykjavík District Court that former CEO of Landsbanki, Sigurjón Th. Árnason, is to remain in custody until January 25. Árnason had appealed the District Court’s verdict.

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The Supreme Court of Iceland. Photo by Páll Kjartansson.

Sigurdur G. Gudjónsson, Árnason’s lawyer, told Morgunbladid that he had been informed that out of the three Supreme Court lawyers handling Árnason’s appeal, one of them handed in a dissenting vote. However, he had not been informed in what way that vote differed from the others.

Árnason’s associate, Ívar Gudjónsson, who was also given a custody sentence, was released on Monday, while Landsbanki’s other CEO at the time of the banking collapse, Halldór J. Kristjánsson, is under a travel ban.

Iceland’s Special Prosecutor is currently investigating alleged market abuse at Landsbanki from 2003 to 2008.

Click here to read more about the investigation.

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