Exeter Case Appealed to Supreme Court Skip to content

Exeter Case Appealed to Supreme Court

State Prosecutor Sigrídur J. Fridjónsdóttir confirmed her decision yesterday to appeal the so-called Exeter case to the Supreme Court. All three defendants were acquitted of the Special Prosecutor’s charges by Reykjavík District Court on June 29.


The Supreme Court of Iceland. Photo by Páll Kjartansson.

Ragnar Z. Gudjónsson, former CEO of Byr savings bank, and Jón Thorsteinn Jónsson, the bank’s former chairman, were both found not guilty of breaching Byr’s loan regulations in regard to a ISK 1 billion (USD 8.6 million, EUR 6 million) loan granted to Exeter Holding to buy capital shares from themselves and other Byr board members.

Styrmir Thór Bragason, former CEO of MP Bank, was found not guilty of having assisted them in the alleged offense and money laundering.

The jury was split in its verdict.

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