The former CEO of the failed Landsbankinn, Sigurþjón Þ. Árnason, received today a one-year jail sentence for his role in a market manipulation of share prices in Landsbankinn in 2008. He will serve three months in jail and nine are suspended for two years
Two other former directors at the bank were also sentenced for the same offence at the district court of Reykjavík today. Ívar Guðjónsson and Júlíus Steinar Heiðarsson received nine months each. Three months will be served in prison and six suspended for two years.
Landsbankinn was one of Iceland’s big three banks that failed so spectacularly in the autumn of the 2008. The other two were Glitnir and Kaupthing. All three are still in winding-up proceedings.
Sigurjón has already declared that he will appeal to the Supreme Court of Iceland
The former CEO of the failed Landsbankinn, Sigurþjón Þ. Árnason, received today a one-year jail sentence for his role in a market manipulation of share prices in Landsbankinn in 2008. He will serve three months in jail and nine are suspended for two years
Two other former directors at the bank were also sentenced for the same offence at the district court of Reykjavík today. Ívar Guðjónsson and Júlíus Steinar Heiðarsson received nine months each. Three months will be served in prison and six suspended for two years.
Landsbankinn was one of Iceland’s big three banks that failed so spectacularly in the autumn of the 2008. The other two were Glitnir and Kaupthing. All three are still in winding-up proceedings.
Sigurjón has already declared that he will appeal to the Supreme Court of Iceland
