Special Prosecutor Issues First Charges Skip to content

Special Prosecutor Issues First Charges

Yesterday, the Special Prosecutor issued his first charges. They are against three men of BYR Public Savings Bank accused of granting loans to Exeter Holding. BYR has also sued the defendants for damages.

The former Chairman of BYR’s Board Jón Thorsteinn Jónsson, BYR’s former bank manager Ragnar Zophonías Guðjónsson and Styrmir Thór Bragason, the former CEO of MP Bank, are charged with breach of trust in relation to the loan.

Special Prosecutor Ólafur Thór Hauksson refused to divulge any information regarding the case until later this week, when all three defendants have been presented with their charges, ruv.is reports.

Last night, BYR issued a statement announcing that the company has filed a damage claim against the accused. It was also emphasized that none of the charged still work for the company and that significant changes have been made to BYR’s inner structure in order to prevent anything like this from happening again.

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