Investigation Into Banking Collapse Cases Ends Skip to content

Investigation Into Banking Collapse Cases Ends

Investigation into all court cases related to the 2008 banking collapse has ended, RÚV reports. Investigation into the last of the cases was cancelled at the district prosecutor’s office last month. Six of the cases are currently before the courts. Last week the main proceedings began in the market abuse case of Glitnir bank.

This fall will mark a decade since the collapse. Though new cases have come up in recent years, they will not be put before the courts, according to the district prosecutor’s office.

A special prosecutor started working at the beginning of 2009 on the cases. At the time, there were 202 cases related to the collapse. Investigation into 84 of the cases was discontinued and 18 were closed after the investigation was completed, 22 were combined with other cases, and four sent to other offices. In addition, 7 were categorized as aid to foreign authorities and 9 as aid to other national authorities, while one accusation was withdrawn.

Seventeen cases closed with a verdict: 13 with partial or full convictions while the remaining four were acquitted.

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