Business World

Saturday 19 August 2017

Iceland banking chiefs arrested

Two former senior executives of Iceland's failed Landsbanki bank have been arrested over allegations of market manipulation
Two former senior executives of Iceland's failed Landsbanki bank have been arrested over allegations of market manipulation

Two former senior executives of Iceland's failed Landsbanki bank have been arrested over allegations of market manipulation.

Ex-Landsbanki chief executive Sigurjon Arnson and Ivar Gudjonsson, the bank's former head of corporate finance, were ordered to be detained in connection with the institution's collapse.

Landsbanki and Iceland's other banks collapsed in 2008 under the weight of enormous debts accumulated during the country's boom.

Arnson and Gudjonsson are among seven executives sought for questioning about the bank's collapse.

A court in Reykjavik is due to rule on their continued detention.

Press Association

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