From Iceland — Kaupthing Arrests End With All Released From Custody

Kaupthing Arrests End With All Released From Custody

Published March 10, 2011

All of those who were arrested yesterday in connection with investigations of Kaupthing were released from custody by the evening.
As reported, former Kaupthing director Sigurður Einarsson – along with one of the company’s biggest clients, Robert Tchenguiz and his brother Vincent – were arrested in London this morning in a joint operation of the Serious Fraud Office (SFO) of Britain and the office of the special prosecutor in Iceland. Former head of the UK arm of Kaupthing Ármann Þorvaldsson were also among those taken into custody.
Eyjan now reports that everyone who had been arrested yesterday morning was released from custoday yesterday evening.
Special Prosecutor Ólafur Þór Hauksson, speaking to morning radio on the station Rás 2, confirmed the matter, saying, “There was no demand to keep the parties in custody who were arrested here at home and abroad yesterday, so they were all released.”
He added that his job this time around has been to assist the SFO in their operations, and said that questioning will continue today.
Both the SFO and the special prosecutor have been actively investigating Kaupthing for fraud and market manipulation. Ólafur Þór plans on having the case completed by the end of 2014.

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