Deutsche Bank Investigates Former Landsbanki’s Principal Players Skip to content

Deutsche Bank Investigates Former Landsbanki’s Principal Players

According to Ríkisútvarpid the German banking giant Deutsche Bank is now investigating the actions of the owners and managers of Landsbanki prior to the October 2008 collapse to see if any laws were broken. The station claims the investigation aims at finding out whether those involved might be prosecuted in either Iceland or Germany and if some lost money can be recovered.


Björgólfur Gudmundsson

Deutsche Bank was the biggest lender to Iceland and has presumably lost a very large sum of money. The burning question is if there was some fraud involved, misleading or false information. At the heart of the matter is the question on whether some money made it to so-called tax heavens, in the Caribbean or elsewhere.


Björgólfur Thor Björgólfsson/ Photo Geir Ólafsson

The story said that the investigating team has obtained information from the fallen bank and the NBI, the new bank built on its ruins. The work of the two CEOs Sigurjón Árnason and Halldór Kristjánsson are said to be scrutinized as well as the two main owners, Björgólfur Gudmundsson and his son Björgólfur Thor Björgólfsson. Both father and son were thought to be among the thousand richest men in the world in 2007 according to Forbes.

None of those named in the news item seems to have been contacted for comment.

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