Icelandic Banker Freed from Custody, Now on Travel Ban Skip to content

Icelandic Banker Freed from Custody, Now on Travel Ban

Magnús Gudmundsson, former director of the Icelandic bank Kaupthing in Luxembourg, was released from custody last week but is now on a two-week travel ban. Former Kaupthing CEO Hreidar Már Sigurdsson is still in custody.

The headquarters of Kaupthing, now Arion Bank, in Reykjavík. Copyright: Icelandic Photo Agency.

Gudmundsson issued a statement on Friday saying that keeping him in custody had been unnecessary and a difficult experience, Fréttabladid reports.

He reasoned it had been unnecessary because he had worked in Luxembourg for the past 12 years, while the cases that are under investigation are mainly directed towards Kaupthing in Iceland.

Gudmundsson stated that he has always been cooperative. “I declare that I will cooperate fully with authorities in solving this case and I believe that when everything has come to light my innocence will be proven.”

Former chairman of Kaupthing Sigurdur Einarsson is wanted by Interpol.

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