Jailed Bank Execs Formally Call for Case to Re-open Skip to content

Jailed Bank Execs Formally Call for Case to Re-open

Sigurður Einarsson and Hreiðar Már Sigurðsson, the former Kaupþing Bank executives now serving prison sentences following the so-called Al Thani case, have formally requested that the case be re-opened.

They claim that Supreme Court judge Árni Kolbeinsson was unfit to rule in the case and that evidence had been wrongly assessed.

Hreiðar Már was sentenced to five-and-a-half years in the case and Sigurður to four years, Viðskiptablaðið reported.

Ólafur Ólafsson, who was also charged in the case, is also calling for a re-trial and has already long since submitted his claim. He says that wrong conclusions were drawn over a recorded telephone conversation between two people. “From the phone call in question, the wrong conclusion is drawn that Ólafur Ólafsson had been informed about certain aspects of the transactions, despite the fact that other evidence showed otherwise,” his appeal claim states.

Now Sigurður and Hreiðar have also submitted their appeals claims, which were leaked to Viðskiptablaðið. Part of their claims is that shortly after their conviction, media reports started circulating that Árni Kolbeinsson’s son had worked as head of the legal department on the Kaupþing Bank resolution committee from 2008 to 2013, and that he therefore had a conflict of interest as a judge in the case. The claim asserts that this family connection was never made known in any correspondence between the Supreme Court of Iceland and the lawyers working on the case.

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