Proceedings in Baugur case drawing to a close Skip to content

Proceedings in Baugur case drawing to a close

Fréttabladid reports that cross-examination of witnesses in the so-called Baugur-case concluded yesterday in the District Court of Reykjavík.

Today, the special prosecutor and the defense counsel will start presenting their closing arguments before the court.

Many witnesses have been called, including two former directors of the board who resigned in 2003 and two former chief financial officers.

Expert witnesses were also questioned, including a Deloitte and Touche auditor who gave testimony concerning the presentation of certain transactions of Baugur managers with Baugur in the company’s annual accounts.

After the prosecution and defense argue their case, the court will start its deliberations. The case consists of two parts: alleged fraud and misrepresentation in filing customs reports and alleged violations of the commercial code governing company accounts and annual reports.

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