Icelandic Tycoon Found Guilty of Tax Violations Skip to content

Icelandic Tycoon Found Guilty of Tax Violations

Icelandic businessman Jón Ásgeir Jóhannesson and his business partners Kristín Jóhannesdóttir and Tryggvi Jónsson were found guilty of tax violations in the so-called Baugur case in Reykjavík District Court earlier this afternoon.


Jón Ásgeir Jóhannesson. Copyright: Icelandic Photo Agency.

The defendants were not present when the verdict was announced. The three were handed a one year suspended sentence (or punishment), reports.

Jón Ásgeir, Tryggvi and Kristín were charged with personal and company tax violations. The charges were also directed at the company Gaumur, a family business run by Jón Ásgeir and Kristín, who is his sister.

According to, the extension to appeal begins immediately.

The representatives of the prosecutor would not comment on the case but Jakob Möller, the lawyer representing Tryggvi, said he didn’t expect the defendants to appeal the verdict.

Click here to read more about the Baugur case.


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