Icelander Held in India for Major Money Laundering Skip to content

Icelander Held in India for Major Money Laundering

Police in India have held a 38-year-old Icelandic male in custody since Friday last week for money laundering in relation to drug dealing. The man has been wanted by the US Drug Enforcement Administration (DEA) for four years.

The man has requested release on bail and his case will be reviewed today, Morgunbladid reports.

The man is accused for having laundered up to USD 3 million (EUR 2 million) in money derived from Russia and Estonia for an American drug producer. If he is found guilty, he could face a prison sentence of up to 20 years.

The drug producer for whom the Icelander allegedly worked was sentenced to prison in Kansas in 2003 for manufacturing LSD.

The money laundering is believed to have been established through a research position held by the American at the University of California, Los Angeles (UCLA). While working there, he received what was believed to be a research sponsorship from Russia.

But the money allegedly came from criminal activities in Estonia and Russia, which the Icelander sent to his associate in the US.

According to Morgunbladid, the Icelander will probably be extradited to the US where he will be put on trial.

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