State Attorney Says No New Charges in Baugur Affair Skip to content

State Attorney Says No New Charges in Baugur Affair

Following widespread speculation, the Icelandic State Attorney announced the Tuesday that new charges will not be issued in Section 1 of the so-called Baugur affair. This was reported by all the main media Tuesday.

The case surrounding Baugur Group, Iceland’s largest retailer, has been ongoing since 2002 and incorporates charges of embezzlement and fraud. Following an extended investigation, 40 charges were eventually issued against the company in 2005. Those were dismissed by Reykjavík District Court, and an appeal to the Supreme Court saw 80 percent of the charges dismissed. New charges were subsequently issued, the largest part of which – the aforementioned Section 1, relating to the acquisition of Baugur Group of the 10-11 retail chain – was once again dismissed by the two courts.

The State Attorney had indicated that new charges might be issued, but has now announced that this will not be done.

Baugur’s owners have always maintained their innocence and the entire affair has been beset by rumors of political conspiracy and sabotage. Baugur Group is a powerful retail operation, owning a slew of companies in Iceland as well as several High Street retailers in the United Kingdom, through which they control some 1,000 retail outlets. These include Oasis, Karen Millen, Whistles, Booker, Iceland, Goldsmiths and Hamleys.

(Search “Baugur” on Iceland Review’s online news archive for the case’s history in the news.)

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