Former CEO of Iceland’s Landsbanki Behind Bars Skip to content

Former CEO of Iceland’s Landsbanki Behind Bars

sigurjontharnason_goSigurjón Th. Árnason, former CEO of Landsbanki (pictured), and Ívar Gudjónsson, former director of the bank’s inner trade, were taken with police escort before a district judge at 11:30 pm last night.

Iceland’s Special Prosecutor has demanded custody over them but it hasn’t been revealed whether custody was granted. However, both men spent the night in prison, ruv.is reports.

Árnason and Gudjónsson were interrogated for 13 hours along with five other former Landsbanki employees at the Special Prosecutor’s Office yesterday. The group also includes Elín Sigfúsdóttir, Steinthór Gunnarsson and Yngvi Örn Kristinsson.

The Special Prosecutor’s investigation is directed towards alleged market abuse in relation with Landsbanki’s purchase of shares in the bank and the bank’s loans for purchasing shares in the bank. Eight offshore companies were founded to secure the right of Landsbanki employees to purchase shares in the bank.

The Landsbanki case is among the most extensive cases that are currently being investigated by the Special Prosecutor.

Click here to watch a video on RÚV of when Árnason is led out of the Special Prosecutor’s Office after interrogation last night.

Click here to read more about the Special Prosecutor’s investigation and the affairs of Landsbanki.

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