An Icelander in Denmark is suspected of having defrauded people out of millions with a scheme to import iPhones to Iceland.
Iceland imports almost all of its tech hardware, and import tariffs on things such as iPhones can make prices comparatively much higher than in mainland Europe. RÚV reports that one enterprising Icelander who tried to find a way around this may have defrauded people out of millions of krónur.
Henning Bjarne Schmidt, the chief of the economic crimes division of the Danish police, told reporters that the suspect in question convinced numerous people to buy iPhones in Denmark for him. Anywhere from 600 to 800 iPhones in all were bought for the suspect, who promised investors high returns once he sold the phones in Iceland. Their money, however, never materialised. Instead, the suspect made off with some 110 million ISK, never contacting the investors again.
Schmidt reports that the suspect was arrested in downtown Copenhagen and will remain in police custody until his trial, which is tentatively scheduled for months from now.