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Attorney Arrested in Money Laundering Case

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Attorney Arrested in Money Laundering Case

Police car

Photo: Páll Stefánsson.

A district attorney in his forties was arrested Monday and will be in police custody until Friday in connection with the district prosecutor’s investigation of fraud and money laundering, Vísir reports. He is the fourth person arrested in connection with the case, but one woman and two men had previously been arrested. The attorney was arrested as he arrived for a hearing with one of the defendants in the case.

The amount of money involved is ISK 50 million (USD 383,000, EUR 353,000), but there is suspicion that the case involves money laundering by transfers of money between countries.

RÚV reports that the investigation involves an Icelandic company which did business in Asia. Money was transferred from Asia to Iceland, but not to the company it was originally meant to go to. When attempts were made to transfer the money back to Asia, that triggered warning lights at the bank, which notified authorities.

All of the people arrested are Icelandic citizens, and one of them has a long criminal record.

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