Human Rights Court To Review Insider Trader Case

Published June 5, 2012

An Icelander convicted of insider trading has taken his case to the European Court of Human Rights. They will soon decide whether or not to take his case to trial.
As reported, former Permanent Secretary of the Ministry of Finance Baldur Guðlaugsson was, in 2008, privy to a great deal of financial information that the general public did not have. On September 2, 2008, he attended a meeting with the British finance ministry, where Icesave deposits were discussed. On September 17 and 18, he sold his shares in Landsbanki for 192 million ISK.
An investigation was launched almost immediately following the crash into Baldur’s trading, with the Special Prosecutor freezing the 192 million ISK in November 2009. Sentenced by the Reykjavík District Court in April 2011 to two years in prison, he appealed the decision to the Supreme Court, which upheld the district court’s verdict. He is now in prison for his crimes.
Baldur, however, believes that his human rights were violated in how his case was handled. In particular, he contends that he was not allowed to introduce evidence that could have helped his case, that he was convicted of a crime for which he was not charged, and that the legal principle of ne bis in idim – wherein no legal action can be instituted twice for the same cause of action – was violated. As such, he has submitted his case to the European Court of Human Rights for review.
RÚV now reports that the European Court of Human Rights has agreed to review his case and determine whether or not it should go to trial. The court is a difficult one to have a case tried, though, as most cases submitted to them are rejected.
A decision on whether or not to try Baldur’s case will likely not be made until next year.



News
Pirates With Most Support Five Months Running

Pirates With Most Support Five Months Running

by

A new Gallup poll shows some record highs – and record lows – for Iceland’s parliamentary parties. Kjarninn reports that

News
But Is It Skyr?

But Is It Skyr?

by

A new “skyr” product is being produced overseas, and its ingredients call into question what defines “skyr”. Vísir reports that

News
Baltasar Kormákur & Ridley Scott Working On EVE Online TV Series

Baltasar Kormákur & Ridley Scott Working On EVE Online TV Series

by

Baltasar’s production company and legendary sci-fi director Ridley Scott are in talks to fund a pilot for a series two

News
Legendary Hotdog Stand Bæjarins Beztu Forced To Move

Legendary Hotdog Stand Bæjarins Beztu Forced To Move

by and

The latest casualty of the hotel construction boom is famous hotdog stand Bæjarins Beztu, as the restaurant has been forced

News
Refugee Rights Group Wants Iceland To Drop Dublin Regulation

Refugee Rights Group Wants Iceland To Drop Dublin Regulation

by

Ekki Fleiri Brottvísanir (“No More Deportations”) told Grapevine that Iceland could and should go a lot further where asylum seekers’

News
Pirate Party To Make Constitution, EU Referendum Main Focus

Pirate Party To Make Constitution, EU Referendum Main Focus

by

There are two main issues the Pirate Party wants to focus on this coming parliamentary term: changing the Constitution, and

Show Me More!