Iceland District Court Gives Former Director of VSP Jail Time
This article is for subscribers only.
Viggo Thorisson, the former managing director of Iceland’s failed VSP Securities hf, was sentenced to two years in prison by Reykjanes District Court for attempting to defraud investors and the Royal Bank of Scotland Plc.
Thorisson was convicted for forging VSP documents to show that a U.S. company, Napis Inc., owned assets of $700 million that were used as collateral for debt Napis was issuing on the Channel Islands Stock Exchange. Thorisson owned 25 percent of Napis’ shares.