This is now Hreiðar Már’s third conviction related to financial crimes during his tenure at Kaupþing, for which he has, thus far, earned a cumulative sentence of seven years in prison.
The announcement came almost ten years to the day since Geir notified the nation of the gravity of Iceland’s financial situation in a televised address; in the next few days, Iceland’s banks crashed one by one.
A dry cleaner in Akureyri, North Iceland offers free service to those with an upcoming job interview.
The European Court of Human Rights announced their ruling in the case of former Prime Minister Geir H. Haarde versus the State of Iceland this morning.
Glitnir HoldCo. Ltd. has requested an injunction be filed against media outlet Stundin for their reporting based on leaked documents from the bank.
Current Prime Minister of Iceland Bjarni Benediktsson sold millions of ISK in assets at Glitnir bank before the 2008 banking collapse.
A foreign citizen is in custody after being arrested at Keflavík International Airport in possession of 2.2 kilos of cocaine.
The number of construction cranes across Iceland is approaching the number counted in 2007, just prior to the banking collapse.
Icelandic President Guðni Th. Jóhannesson believes it was a major mistake after the 2008 banking collapse to make use of an ancient and outdated clause in the Icelandic constitution to assemble the High Court of Iceland.
Governor of the Central Bank of Iceland Már Guðmundsson does not like the idea, introduced earlier this week by a construction company, to offer 95 percent loans to home buyers.
Three board members of Glitnir Holdco ehf., along with a few Icelandic key employees of the company in Iceland, have already secured a total of ISK 875-1,525 million (USD 7.6 million, EUR 7 million) in bonuses.
On October 6, 2008, the decision was made to provide Kaupþing bank with a EUR 500 million loan, even though it was thought unlikely that the loan would ever be repaid.
Yesterday afternoon The Supreme Court of Iceland affirmed the guilty verdicts handed down by the Reykjavík District Court in June of last year over seven out of nine former Kaupþing bank directors.
Reactions to the report presented Monday, criticizing the re-privatization of the Icelandic banks, continue.
Progressive Party MP Vigdís Hauksdóttir, who chairs the Alþingi parliament’s Budget Committee, and Independence Party MP Guðlaugur Þór Þórðarson, the committee’s first deputy chair, presented a report on Monday criticizing the re-privatization of the banks.
Hearings began in the Icelandic Supreme Court in the Kaupþing bank market manipulation case at 8 am today.
Moody’s Investor Service raised the credit rating for the Icelandic state treasury by two points, from Baa2 to A3 yesterday, with stable outlook. Iceland’s credit rating has not been higher since in late 2008.
A group of about 20 employees of the holding company Kaupþing could be receiving bonuses totaling almost ISK 1.5 billion (USD 12.82 million, EUR 11.35 million) to be paid out at the end of April next year.
An article in Stundin today reveals the connections of father and son Björgólfur Guðmundsson and Björgólfur Thor Björgólfsson to offshore companies.
Five people were injured when a helicopter made an emergency landing in the Hengill mountain area, near Reykjavík.
Icelandic media are abuzz today about “the fake foreign man” who was among the biggest debtors of the failed old Icelandic banks before the 2008 crash. The name does not refer to a specific individual; it is actually a collective term for a number of unknown overseas legal entities.
Lárus Welding, former director of Glitnir Bank, and four other executives from the failed bank, have this morning pleaded not guilty to all charges as their trial begins.
The parliamentary Progressive Party has voted to remove the 110-year secrecy period currently in place for all documentation regarding the resolution of the estates of the bankrupt Icelandic banks, from the 2008 crash to today. The Progressive Party MPs say they hope for a wider backing from...