As Bloomberg reports, Ármannsson had neglected to declare 199 million króna (US$ 1.6 million) in capital gains and interest income, and dividends, for the tax years spanning 2006 through 2008.
Ármannsson served as CEO of Glitnir from 2000 through 2007. Prior to that he headed securities at Kaupþing, and was CEO of the Icelandic Investment bank (FBA). Through to his resignation from Glitnir in May 2007 he had also chaired or sat as a member of several boards, including The Bankers and Securities Dealers Association of Iceland, and the Iceland Chamber of Commerce.
Book your day tours in Iceland right here!