Top Bank Executives In Iceland Jailed, Sued For Billions

jon-asgeir-johannesson2Yet another instance in which the United States could learn something from our Scandinavian brethren: In Iceland, bank executives who helped bring about the nation’s financial meltdown are being rounded up and jailed, issued international arrest warrants, and sued for billions of dollars. AFP reports:

More than a year and a half after Iceland’s major banks failed, all but sinking the country’s economy, police have begun rounding up a number of top bankers while other former executives and owners face a two-billion-dollar lawsuit.

On Wednesday, the administrators of Glitnir’s liquidation announced they had filed a two-billion-dollar (1.6-billion-euro) lawsuit in a New York court against former large shareholders and executives for alleged fraud.

Four former Kaupthing executives, who all live in Luxembourg, have meanwhile been arrested in Iceland in the past week and Interpol has issued an international arrest warrant for that bank’s ex-chairman, Sigurdur Einarsson.

Former head of the bank’s domestic operations, Ingolfur Helgason, and former chief risk officer Steingrimur Karason were arrested late Monday on arrival from Luxembourg, just days after former Kaupthing boss Hreidar Mar Sigurdsson, along with Magnus Gudmunsson, who headed the bank’s unit in Luxembourg, were taken into custody.

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  • http://www.edigitalstudios.com Chicago web developer

    Was there crooks in every country that were tipped off about the global situation.. I don't understand how all these corrupt people stole so much money all around the same time…

  • 5by5

    See, this is why you don't mess with the Viking types. They get all Ragnarok on your punk banker ass.

  • OpenYourHeart

    People rise up. Stop feeding into their stories and customs of seperation. WE are infinitely powerful and we’ve been playing into the fews hands since the beginning of recorded history. These are the Changetimes. We are all one- all just individual drops of water in the ocean of consciousness. In your heart of hearts, know that the truth is coming out and it is time for the system we have had in place for millenia to completely change.

    Imagine war… a distant memory. We can create this on our planet!

  • OpenYourHeart

    People rise up. Stop feeding into their stories and customs of seperation. WE are infinitely powerful and we've been playing into the fews hands since the beginning of recorded history. These are the Changetimes. We are all one- all just individual drops of water in the ocean of consciousness. In your heart of hearts, know that the truth is coming out and it is time for the system we have had in place for millenia to completely change.

    Imagine war… a distant memory. We can create this on our planet!