Seventeen executives and employees of the hardware stores Byko and Húsasmidjan were arrested yesterday as part of the investigation of the National Commissioner of the Icelandic Police’s Economic Crime Department into alleged price fixing. They were all released after questioning last night.
Byko. Photo by Páll Kjartansson.
This is the second time that such actions have been taken in the investigation of this case; earlier this month 19 people were arrested after raids at Byko, Húsasmidjan and the construction supply store Úlfurinn, now Byggingavörur Dúdda. One that occasion all those arrested were also released after questioning, Morgunbladid reports.
An announcement from the National Commissioner of the Icelandic Police says alleged violations of the laws on competition are being investigated, including price fixing, the organization of discounts and the division of markets.
The investigation is based on a charge made by the Competition Authority.