Kaupthing Chair and CEO Suspects in Al-Thani Case? Skip to content

Kaupthing Chair and CEO Suspects in Al-Thani Case?

Former Kaupthing chairman Sigurdur Einarsson and former Kaupthing CEO Hreidar Már Sigurdsson are among those named as suspects in the Icelandic special prosecutor’s investigation of Sheik Mohamed bin Khalifa Al-Thani of Qatar’s acquisition in the bank in September 2008, as stated in The Observer yesterday.

The headquarters of Kaupthing in Reykjavík. Copyright: Icelandic Photo Agency.

Al-Thani acquired five percent of shares in Kaupthing shortly before the bank’s collapse and Kaupthing provided loans for part of the acquisition price. It is now being investigated whether the trade was staged to maintain the value of the bank’s shares, Morgunbladid reports.

A total of eight people have been named suspects in this case. Special prosecutor Ólafur Thór Hauksson is unwilling to reveal their identities. “We have the policy to not report on the legal status of individuals because it might change as the investigation progresses,” he told Morgunbladid.

Click here to read more about Kaupthing and Al-Thani and here to read the article in The Observer.

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