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Defendants in SPRON Case Acquitted

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Defendants in SPRON Case Acquitted

gavel as used in courts

Photo: sxc.hu.

The former CEO of the savings bank SPRON Guðmundur Örn Hauksson and former board members Ari Bergmann Einarsson, Margrét Guðmundsdóttir, Ásgeir Baldursson and Rannveig Rist were acquitted of charges of breach of trust in Reykjavík District Court this morning, ruv.is reports.

Last autumn, the Special Prosecutor’s Office filed charges against them for having abused their positions and risked the bank’s money by authorizing a loan of ISK 2 billion (USD 17 million, EUR 13 million at today’s exchange rate) to investment company Exista without collateral.

The authorization was made the day after the Icelandic government announced its takeover of Glitnir bank and six days after an emergency law was passed enabling the government to stage an extensive intervention in Iceland’s financial system.

Rannveig and Ásgeir were the only defendants present in court this morning.

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