Former Landsbanki CEO Sentenced to 12 Months Skip to content

Former Landsbanki CEO Sentenced to 12 Months

Sigurjón Þ. Árnason, former CEO of Landsbanki, was sentenced to 12 months in prison by Reykjavík District Court earlier this morning for market manipulation between November 1, 2007 and October 3, 2008.

Nine months of the sentence are suspended for two years, visir.is reports. The period which Sigurjón was held in police custody will be deducted from his sentence.

Two of the bank’s staff members, Ívar Guðjónsson and Júlíus Steinar Heiðarsson, received nine month sentences, six months of which are suspended for two years.

A fourth former employee of the bank, Sindri Sveinsson, was acquitted of the Special Prosecutor’s charges.

Half of Sigurjón’s legal fees will be paid by the State Treasury and the full amount of Ívar’s fees.

The defendants were not present during this morning’s sentencing.

The case is one of the largest in the wake of the 2008 financial collapse in Iceland.

Sign up for our weekly newsletter

Get news from Iceland, photos, and in-depth stories delivered to your inbox every week!

Subscribe to Iceland Review

In-depth stories and high-quality photography showcasing life in Iceland!

– From 3€ per month

Share article

Facebook
Twitter

Recommended Posts