Guðlaugur Hermannsson, Liberal Democratic Candidate, Bows Out

Guðlaugur Hermannsson, former candidate for the Liberal Democratic Party, has withdrawn his candidacy in the upcoming election in wake of embezzlement allegations.

According to Fréttablaðið, the allegations concern fraud of unemployment funds amounting to 7.7 million ISK. Guðlaugur is supposed to have convinced staff at the Wage Guarantee Fund that as an employee of a bankrupt company, he was owed this amount in unpaid wages.

Guðmundur Franklin, chairman of the Liberal Democratic Party, confirmed in a statement to RUV that Guðlaugur did not wish to cause the party any harm and was stepping down voluntarily.

Guðlaugur has rejected the accusations in a statement on social media.