Tycoons and Bankers Released after Questioning

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Tycoons and Bankers Released after Questioning

All nine individuals who were arrested in Iceland and London yesterday in a joint operation by the UK Serious Fraud Office (SFO) and Iceland’s Special Prosecutor in relation to their investigation of the affairs of the defunct Icelandic bank Kaupthing were released after questioning last night.

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The headquarters of Kaupthing, now Arion Bank, in Reykjavík. Copyright: Icelandic Photo Agency.

Special Prosecutor Ólafur Thór Hauksson told RÚV’s radio program Morgunútvarpid that investigators decided not to demand custody over these people and therefore they were released, ruv.is reports.

He added questioning will continue today but wouldn’t say whether the same people would be questioned as yesterday.

Hauksson assured listeners that all of his office’s investigations would continue to be worked on effectively—in addition to the Kaupthing investigation, affairs connected with Landsbanki were in the spotlight earlier this year and of Glitnir Bank at the end of 2010.

The schedule is for these investigations to be completed by the end of 2014 and that schedule will stand, he stated.

Among those arrested were former chairman of Kaupthing Sigurdur Einarsson, former director of Kaupthing Singer & Friedlander Ármann Thorvaldsson and the British businessmen and brothers Robert and Vincent Tchenguiz.

Click here to read more about the arrests.