Former heads of failed bank Kaupthing receive the heaviest jail sentences for financial fraud in Iceland’s history

The Supreme Court of Iceland sentenced today four former heads of failed bank Kaupthing to jail for their role in market manipulation of share prices in Kaupthing bank in 2008. Former CEO, Hreiðar Már Sigurðsson, received a five-and-a-half year long sentence, which is the heaviest sentence for financial fraud in Iceland’s history. Former chairman, Sigurður Einarsson, received a four-year sentence, Magnús Guðmundsson, former CEO of the bank’s Luxembourg branch, got four-and-a-half...

http://icelandmag.com

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Former heads of failed bank Kaupthing receive the heaviest jail sentences for financial fraud in Iceland’s history

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