Travel Ban Imposed on Former Landsbanki CEO Skip to content

Travel Ban Imposed on Former Landsbanki CEO

Halldór J. Kristjánsson, who used to be CEO of Icelandic bank Landsbanki along with Sigurjón Th. Árnason, is now under a travel ban until January 25. He arrived to Iceland from Canada, where he lives, yesterday to be interrogated by the Special Prosecutor.

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Halldór J. Kristjánsson. Photo by Páll Stefánsson.

“Everything I have been involved in has been in accordance with laws and regulations,” Kristjánsson told reporters when he arrived at the Special Prosecutor’s, Fréttabladid reports.

His lawyer Fridjón Örn Fridjónsson said Kristjánsson had always intended to cooperate with the Special Prosecutor and therefore the travel ban had been accepted.

The case concerns alleged market abuse of the bank’s executives in the five years preceding the banking collapse of 2008 concerning tens of billions of ISK.

Seven former employees of Landsbanki were interrogated in connection with this case on Thursday. Two of them were arrested, former CEO Árnason, who will be in custody until January 25, and Ívar Gudjónsson, former director of Landsbanki’s inner trade, who will be in custody until January 20.

Árnason is accused of, among other issues, having granted Georg Tzvetanski, former vice-president of BalkanPharma and board member of Pharmaco, now Actavis, ISK 4.5 billion (USD 38 million, EUR 29 million) in overdraft for buying stock in Landsbanki on September 30, 2008, a day after Glitnir Bank was nationalized, which marked the beginning of the banking collapse.

Employees of the Special Prosecutor’s Office questioned people in relation to the Landsbanki case throughout the weekend.

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