Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Iceland Prosecutor Indicts Two Former Landsbanki Bosses on Fraud

Jan. 31 (Bloomberg) -- Iceland’s special prosecutor indicted two former executives of Landsbanki Islands hf for fraud in signing bank guarantees in violation of the lender’s rules before its collapse in 2008.

Former Chief Executive Officer Sigurjon Arnason and Landsbanki’s former director of corporate accounts, Sigridur Elin Sigfusdottir, were indicted for granting guarantees for two loans totaling 6.8 billion kronur ($59 million) in 2006 to companies registered in Panama, according to the indictment obtained by Bloomberg today, dated January 17.

The former executives are also charged for granting another guarantee to one of the same Panamanian companies a year later, totaling 6.8 billion kronur, without seeking collateral.

Calls to the mobile phones of Arnason and Sigfusdottir seeking a comment weren’t answered.

To contact the reporter on this story: Omar R. Valdimarsson in Reykjavik at valdimarsson@bloomberg.net

To contact the editor responsible for this story: Jonas Bergman at jbergman@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.