Seven former bankers receive sentences in Iceland By Kolbeinn Tumi Daðason 26. júní 2015 13:45 From left to right: Hreiðar Már Sigurðsson, Sigurður Einarsson and Ingólfur Helgason. Vísir Former bosses of the Icelandic bank Kaupthing were convicted today for market manipulation in the months leading up to the bank's collapse in the Reykjavik district court. Kaupthing itself was the largest buyer of its own shares on the open market according to the charge. During the time period in question, from November 2007 until October 2008 the purchases of the bank amounted to over 42% of the total turnover of shares in Kaupthing in the Icelandic Stock Exchange. Hreidar Mar Sigurdsson, the former chief executive, and Sigurdur Einarsson, former chairman of the board, were among those convicted but they are already doing time after receiving heavy sentences in the Al-Thani case this past February. Sigurdsson's sentence will however not be increased while one year was added to Einarsson's sentence in the Al-Thani case. He was sentenced to four years in the Al-Thani case so his sentence for both cases is in total five years.See also:Iceland jails former Kaupthing bosses Ingolfur Helgason, the former chief executive of Kaupthing in Iceland, was sentenced to four and a half years in prison. Bjarki Diego, managing director of the bank‘s loan division, received two and a half years. Magnus Gudmundsson, the former chief executive of the Luxembourg branch, who received a 4,5 year sentence this February, was found not guilty. Einar Palmi Sigmundsson, head of proprietary trading, received a two year suspended sentence. Petur Kristinn Gudmarsson and Birnir Saer Bjornsson, brokers working for the bank’s proprietary trading, received an 18 month suspended sentence. Björk Þórarinsdóttir, a former member of the loan committee of Kaupthing, was found not guilty. News in English Mest lesið Læknar fara þokkalega bjartsýnir inn í morgundaginn Innlent Kosningavaktin: Íslendingar ganga að kjörborðinu Innlent Viðreisn stærst samkvæmt nýrri kosningaspá en mjótt á munum Innlent Ók á ljósastaur við Grensásveg Innlent Hefur gefið Landgræðslunni 26 milljónir króna í formi fræja Innlent Tryggja þróunarríkjum 42 billjónir á ári með samkomulagi á COP29 Erlent Sjálfstæðisflokkurinn hafi lagt til niðurskurð á hverju ári Innlent Mikilvægt að Bláa lónið geti opnað sem fyrst Innlent Eldur kviknaði í bíl í Mosfellsbæ Innlent Hvetja íbúa Suðurnesja til að spara heita vatnið Innlent
Former bosses of the Icelandic bank Kaupthing were convicted today for market manipulation in the months leading up to the bank's collapse in the Reykjavik district court. Kaupthing itself was the largest buyer of its own shares on the open market according to the charge. During the time period in question, from November 2007 until October 2008 the purchases of the bank amounted to over 42% of the total turnover of shares in Kaupthing in the Icelandic Stock Exchange. Hreidar Mar Sigurdsson, the former chief executive, and Sigurdur Einarsson, former chairman of the board, were among those convicted but they are already doing time after receiving heavy sentences in the Al-Thani case this past February. Sigurdsson's sentence will however not be increased while one year was added to Einarsson's sentence in the Al-Thani case. He was sentenced to four years in the Al-Thani case so his sentence for both cases is in total five years.See also:Iceland jails former Kaupthing bosses Ingolfur Helgason, the former chief executive of Kaupthing in Iceland, was sentenced to four and a half years in prison. Bjarki Diego, managing director of the bank‘s loan division, received two and a half years. Magnus Gudmundsson, the former chief executive of the Luxembourg branch, who received a 4,5 year sentence this February, was found not guilty. Einar Palmi Sigmundsson, head of proprietary trading, received a two year suspended sentence. Petur Kristinn Gudmarsson and Birnir Saer Bjornsson, brokers working for the bank’s proprietary trading, received an 18 month suspended sentence. Björk Þórarinsdóttir, a former member of the loan committee of Kaupthing, was found not guilty.
News in English Mest lesið Læknar fara þokkalega bjartsýnir inn í morgundaginn Innlent Kosningavaktin: Íslendingar ganga að kjörborðinu Innlent Viðreisn stærst samkvæmt nýrri kosningaspá en mjótt á munum Innlent Ók á ljósastaur við Grensásveg Innlent Hefur gefið Landgræðslunni 26 milljónir króna í formi fræja Innlent Tryggja þróunarríkjum 42 billjónir á ári með samkomulagi á COP29 Erlent Sjálfstæðisflokkurinn hafi lagt til niðurskurð á hverju ári Innlent Mikilvægt að Bláa lónið geti opnað sem fyrst Innlent Eldur kviknaði í bíl í Mosfellsbæ Innlent Hvetja íbúa Suðurnesja til að spara heita vatnið Innlent