Yesterday, the Economic Crime Division of the National Commissioner of the Icelandic Police searched the premises of an Icelandic telemarketing company, Skúlason, as well as a home in Reykjavík, at the request of British authorities. Two Icelanders are suspected of involvement in organized crime including fraud and money laundering reports television station Stöd 2.
According to an announcement from the National Commissioner of the Icelandic Police, British authorities are investigating large scale fraud and money laundering operations. The crimes are believed to involve an organized sale of stocks in companies using deception, wrong and misleading information; for example, by falsely insinuating that certain companies would be listed on a stock exchange. The crimes are believed to have occurred over a period of time, the suspects live and work throughout Europe.
The searches in Reykjavík happened at the same time as searches in Britain. The British Serious Fraud Office searched 20 premises in Britain and arrested seven individuals. Fifteen officers from the Icelandic Economic Crimes Division are currently working on the case, searching computer documents and questioning suspects.
According to Jina Roe, spokesperson for the British Serious Fraud Office, the financial scale of the alleged crimes amounts to over one million British pounds. Roe told Morgunbladid that “boiler room” operations, such as high pressure telephone sales techniques, were used in the alleged crimes to entice investors.
More than one Icelander is involved in the scam says Roe.
Jóhannes B. Skúlason, managing director and part owner of Skúlason, confirmed that his premises had been searched but told the Morgunbladid that he did not know how the company could be involved in such an operation.