Prison Sentence over Bank Director Upheld Skip to content

Prison Sentence over Bank Director Upheld

The 18-month prison sentence over Haukur Þór Haraldsson, former managing director of Landsbanki’s operational division, for embezzlement was yesterday upheld by the Supreme Court of Iceland, reports.

landsbanki_ipaPhoto copyright Icelandic Photo Agency.

The case has previously been heard by the Reykjavík District Court and the Supreme Court on a number of occasions. Haukur Þór had earlier been acquitted of the charges, later sentenced to two years in prison, and then 18 months.

According to, Haukur Þór was charged with having transferred ISK 118 million (USD 935,000; EUR 750,000) from Landsbanki’s subsidiary, NBI Holdings Ltd., to his own account following the banking collapse in October 2008.

Haukur Þór has also been ordered to pay two thirds of the cost of the appeal, or ISK 1.3 million (USD 10,600, EUR 8,100).


26.06.2012 | Former Landsbanki Director Sentenced to Prison


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