Iceland Indicts Ex-Glitnir Bank Boss Armannsson for Tax Evasion

Iceland indicted the former chief executive officer of failed lender Glitnir Bank hf, Bjarni Armannsson, for tax evasion.

Armannsson failed to declare capital-gains income, interest income and the proceeds of dividends, or 199 million kronur ($1.6 million) for the 2006 to 2008 tax years, Iceland’s Special Prosecutor’s Office said in the Dec. 17 indictment, according to documents released by the office today.

A call to Armannsson’s mobile phone seeking comment after regular business hours was unanswered.

Armannsson was the head of Glitnir from 2000 until 2007. The bank was one of several debt-laden Icelandic banks to fail in October 2008.

To contact the reporter on this story: Omar R. Valdimarsson in Reykjavik at

To contact the editor responsible for this story: Jonas Bergman at

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