Two More Former Kaupthing Officials Arrested - UPDATE: Former Kaupthing Chairman Wanted by Interpol - The Reykjavik Grapevine

Two More Former Kaupthing Officials Arrested – UPDATE: Former Kaupthing Chairman Wanted by Interpol

Published May 11, 2010

Steingrímur Kárason and Ingólfur Helgason, two former Kaupthing managers who worked very closely with current detainee Hreiðar Már Sigurðsson, were arrested last night after arriving in Iceland for questioning by the special prosecutor.
RÚV reports that the two were asked to come back to Iceland for questioning. Upon their arrival, they were immediately arrested. They are currently still custody.
The two men worked very closely with Hreiðar Már and former chairman of the board Sigurður Einarsson. Shortly after the economy collapsed, they changed their legal address to Luxemborg and started a company called Consolium. Ironically enough, the business magazine Viðskiptablaðið reported in December 2008 that the company provided counselling to banks and individuals who were in debt.
In related news, the Supreme Court decided that freeing Hreiðar Már would not be a good idea at this time as investigations continue. Current evidence points to market manipulation on his part extending over a period of years, very probably with the collusion of or at least tacit approval of Sigurður Einarsson, who is also wanted for questioning but has told the special prosecutor that he will come to Iceland for questioning on the condition that he is not arrested.
UPDATE: The special prosecutor has announced that former Kaupthing chairman of the board Sigurður Einarsson is now wanted by Interpol. His arrest should be imminent. More on this when we know something more.

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