Investigation of Baugur continues Skip to content

Investigation of Baugur continues

According to Iceland State Radio, RÚV, officers of the National Police Commissioner’s Economic Crimes unit have been questioning several individuals over the past few weeks in connection with an ongoing investigation of retail company Baugur. The investigation aims to determine whether or not Baugur’s current and former CEO’s, Jón Ásgeir Jóhannesson and Tryggvi Jónsson, engaged in fraud, tax evasion and several other illegal activities. Both men have denied all charges.

RÚV quotes several anonymous sources who say it is high time that the police concluded their investigation and decide whether or not to press charges. The lawyer is critical of the police says that the charges now being investigated are not the same as when the investigation started.

The investigation extends into the period when Baugur was still a public company, and the results of the investigation could potentially have impact on a wide constituency of investors.

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