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.
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.
Hearings began in the Icelandic Supreme Court in the Kaupþing bank market manipulation case at 8 am today.
The Reykjavík District Court today sentenced three defendants in the Marple Case, but found one of them not guilty.
Deutsche Bank is believed to have put both its Asia heads of corporate finance on leave—though apparently for unrelated reasons.