| Author (Person) | Stothard, Michael |
|---|---|
| Series Title | Financial Times |
| Series Details | 24.2.12 |
| Publication Date | 24/02/2012 |
| Content Type | News |
|
The Icelandic probe into the collapse of Kaupthing Bank in 2008 made a big leap forward in February 2012. The Icelandic special prosecutor charged Hreidar Mar Sigurdsson, the former chief executive of the failed lender, and Sigurdur Einarsson, the former chairman, with fraud and market manipulation. The move was the culmination of a three-year investigation by the special prosecutor, which was set up following the country’s 2008 banking crisis to look into 'suspected criminal conduct before, during and following the events that led to the so-called ‘collapse’ in Iceland'. Kaupthing was one of three Icelandic banks that failed at the height of the global credit crunch, with debts equivalent to more than 10 times Iceland’s gross domestic product. The country was forced to seek a multibillion-dollar bail-out from the International Monetary Fund. |
|
| Related Links |
|
| Countries / Regions | Iceland |
