Swedish weekly warns of Icelandic investors Skip to content

Swedish weekly warns of Icelandic investors

One of the Nordic countries’ foremost business publications, Veckans affärer, warns its readers of Icelandic billion-króna investors citing “shady backgrounds” and “extraordinary line of credit they seem to enjoy” reported Morgunbladid yesterday.

“The police have had something to do with all of the four largest investors,” writes the Veckans affärer. The four investors in question are Björgólfur Thor Björgólfsson, Baugur CEO Jón Ásgeir Jóhannesson and the Bakkavör brothers, Ágúst and Lýður Guðmundsson. According to Morgunbladid the article mentions the rumor the that the Russian mafia is flooding the Icelandic financial world with money. According to Veckans affärer, many in the financial world wonder how in a country that has no foreign investments [Iceland] where all the money of these businessmen is coming from.

The paper writes about the trial of Baugur executives and suspected insider trading of JP Nordiska shares at KB Bank. “Even though none of the business heavyweights may be guilty of illegal actions, the question marks surrounding some of them and their high compensation paints a picture of young, disrespectful, risk seekers that let nothing stand in their way,” writes Veckans affärer.

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