Iceland, Where Bad Bankers Go to Jail – Nine Found Guilty in Historic Supreme Court Ruling

(Before It's News)

October 9th, 2016

By Nadia Prupis

Since its 2008-2011 financial crisis, Iceland has received global recognition for its strategy of prosecuting executives, letting banks go bust, and focusing on social welfare. Now Iceland, which became a gold standard for corporate accountability in the wake of the crisis, has found nine bankers guilty for market manipulation in one of the biggest cases of its kind in the country’s history.

The verdict from Iceland’s Supreme Court, issued Thursday October 6th, overturns a June 2015 decision by the Reykjavik District Court, which found seven of the nine defendants guilty but acquitted two. Sentencing has yet to be handed down yet.

All nine defendants worked at the major international firm Kaupthing Bank until it was taken over by the Icelandic government during the crash. The bank’s former director Hreiðar Már Sigurðsson, who was sentenced to five and a half years in 2013 in a separate Kaupthing case, had his punishment extended by six months in response to the verdict. Acquittals were overturned for former Kaupthing credit representative Björk Þórarinsdóttir and former Kaupthing Luxembourg CEO Magnús Guðmundsson.

CONTINUE READING:

[FACEBOOK]: http://www.facebook.com/joinwakeupworld (An interactive community of over 3,000,000)

[PINTEREST]: http://pinterest.com/wakeupword/

[TWITTER]:  http://twitter.com/joinwakeupworld

[YOUTUBE]: http://www.youtube.com/joinwakeupworld          

[GOOGLE PLUS]: https://plus.google.com/112452105795129310867/posts

[WEBSITE]: http://wakeup-world.com  

• Will Hurricane Matthew trigger a derivatives melt-down?
• Will Hurricane Matthew Trigger A Derivatives Melt-Down?
• HMB-CA Market Size, Trends, Overview, Shares, Growth, Demand and Industry Analysis and Forecast to 2021
• Lock and Load for American Homeowners
• Benjamin Fulford: “Leaked Documents Show the 2008 Lehman Crisis was a way to Steal Vast Sums from the People of this Planet.
• Deutsche Bank Will Collapse Without A Bailout or Bail-In
• Deutsche Bank: The Most Important Bank In Europe Is Facing Collapse
• According to JPMorgan, This Is the Biggest Risk Facing Deutsche Bank at This Point
• Short All Bounces In Deutsche Bank Stock – It’s Still Insolvent
• Deutsche Bank in Free-Fall Collapse! Controlled Demolition in Progress! German Government Non-responsive!