General Discussion
In reply to the discussion: "The Government Bailed out the The People and Imprisoned the Banksters" [View all]muriel_volestrangler
(106,752 posts)I can find:
07 April 2011 Baldue Gudlaugsson, former permanent secretary at the Ministry of Finance, insider dealing - two years in prison - sold his shares in Landsbanki on the 17th and 18th September 2008, immediately before the banks fall
http://www.icenews.is/2011/04/07/first-iceland-bank-crash-prison-sentence-handed-down/
http://www.icenews.is/2012/02/17/insider-dealing-civil-servant-loses-appeal/
15 June 2012 former chairman and the former CEO of the Icelandic Byr Savings Bank have each been sentenced to four-and-a-half years behind bars after being found guilty of fraud: "granting an ISK 800 million (EUR 4.9 million) loan to Exeter Holdings ehf, just as the Icelandic banking system was on the brink of collapse in 2008.
Exeter then used the loan to buy Gudjonsson and Jonssons shares in Byr, before putting them up for sale as a collateral guarantee for the loan."
http://www.icenews.is/2012/06/15/former-icelandic-bank-execs-jailed-for-fraud/
Byr is Icelands fourth largest operating bank in the retail and corporate sector. Before the financial crisis Old Byr had a total of 235 employees working in 214 full-time positions.
http://www.eftasurv.int/media/decisions/126-11-COL.pdf
Aron Karlsson was sentenced to 2 years in prison for defrauding Arion Bank in real estate dealings:
http://en.wikipedia.org/wiki/2008%E2%80%932012_Icelandic_financial_crisis#Convictions
http://translate.google.com/translate?sl=is&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.visir.is%2Faron-karlsson-daemdur-i-tveggja-ara-fangelsi-%2Farticle%2F2012121118956
Any other jail sentences people can find? The ex-PM was guilty on one charge:
'Haarde was convicted of failing to take the initiative to insure "a comprehensive and professional analysis of the financial risk faced by the state because of the risk of financial crisis."'
but was cleared on others, received no punishment, and had his court costs paid
http://www.cbc.ca/news/business/story/2012/04/23/business-iceland-bank-collapse.html
And one year suspended sentences for 3 investors, for tax violations:
http://icelandpulse.com/icelandreview/6466-icelandic-tycoon-found-guilty-of-tax-violations