Atlantis Online
October 23, 2019, 12:46:26 am
Welcome, Guest. Please login or register.

Login with username, password and session length
News: Did Humans Colonize the World by Boat?
Research suggests our ancestors traveled the oceans 70,000 years ago
http://discovermagazine.com/2008/jun/20-did-humans-colonize-the-world-by-boat
 
  Home Help Arcade Gallery Links Staff List Calendar Login Register  

Executives at collapsed Iceland bank jailed for fraud

Pages: [1]   Go Down
  Print  
Author Topic: Executives at collapsed Iceland bank jailed for fraud  (Read 62 times)
Volitzer
Superhero Member
******
Posts: 11110



« on: December 29, 2012, 11:10:26 am »

Executives at collapsed Iceland bank jailed for fraud

 Reuters December 29, 2012, 4:19 am

REYKJAVIK (Reuters) - Two former executives at an Icelandic bank which collapsed in the 2008 financial meltdown were sentenced to jail on Friday for fraud which led to a 53 million euro loss, in the first major trial of Icelandic bankers linked to the crisis.

All three of the small North Atlantic island's top banks collapsed in quick succession in October 2008 due to big debts incurred during a rapid overseas expansion.

Glitnir was the first to fall after the collapse of Lehman Brothers caused international credit markets to freeze up.

A Reykjavik court sentenced Glitnir's former chief executive, Larus Welding, and former head of corporate finance, Gudmundur Hjaltason, each to nine months in jail, of which six months were suspended for two years. They had denied the charges.

More: http://au.news.yahoo.com/world/a/-/world/15732202/executives-at-collapsed-iceland-bank-jailed-for-fraud/
Report Spam   Logged



Pages: [1]   Go Up
  Print  
 
Jump to:  

Powered by EzPortal
Bookmark this site! | Upgrade This Forum
SMF For Free - Create your own Forum
Powered by SMF | SMF © 2016, Simple Machines
Privacy Policy