Special Prosecutor Puts Former Banker on Trial Skip to content

Special Prosecutor Puts Former Banker on Trial

The Office of the Special Prosecutor demanded that Styrmir Þór Bragason, former CEO of MP Bank, be sentenced to three to four years in prison for his part in breach of trust and money laundering in the Exeter case, at Reykjavík District Court yesterday.

districtcourtReykjavík District Court.

Styrmir is accused of having been accomplice to granting a loan from Byr savings bank to a subsidiary of MP Bank to purchase founder’s capital shares in Byr, which proved to be worthless, ruv.is reports.

Jón Þorsteinn Jónsson and Ragnar Z. Guðjónsson were given 4.5-year sentences at the Supreme Court of Iceland in June 2012 for their part in the affair. Styrmir’s case was referred back to the district court.

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