Jailed bankers Magnús Guðmundsson, Sigurður Einarsson and Ólafur Ólafsson will be move from Kvíabryggja jail to a halfway house where they will be allowed to complete their jail sentence on electronic monitoring, reports the National Broadcasting Service.
New laws allow for non-violent offenders to finish their jail sentence on electronic monitoring. The three men were considered eligible to finish their sentence outside jail because they were considered minimum-security risk.
Sigurður Einarsson, the Chairman of failed bank Kaupþing, was recently sentenced to a combined prison term of five years in two cases involving market manipulation in the lead up to the 2008 crisis.
Magnús Guðmundsson, the CEO of Kaupþing Luxembourg, was found guilty of extensive market manipulation, embezzlement and breach of fiduciary duties.
Ólafur Ólafsson, one of the most powerful “corporate Vikings” of the pre-2008 years and one of the largest shareholders in Kaupþing, was sentenced to four and a half years for market manipulation.
Jailed bankers Magnús Guðmundsson, Sigurður Einarsson and Ólafur Ólafsson will be move from Kvíabryggja jail to a halfway house where they will be allowed to complete their jail sentence on electronic monitoring, reports the National Broadcasting Service.
New laws allow for non-violent offenders to finish their jail sentence on electronic monitoring. The three men were considered eligible to finish their sentence outside jail because they were considered minimum-security risk.
Sigurður Einarsson, the Chairman of failed bank Kaupþing, was recently sentenced to a combined prison term of five years in two cases involving market manipulation in the lead up to the 2008 crisis.
Magnús Guðmundsson, the CEO of Kaupþing Luxembourg, was found guilty of extensive market manipulation, embezzlement and breach of fiduciary duties.
Ólafur Ólafsson, one of the most powerful “corporate Vikings” of the pre-2008 years and one of the largest shareholders in Kaupþing, was sentenced to four and a half years for market manipulation.
