From Iceland — Special Prosecutor Faces Severe Cuts

Special Prosecutor Faces Severe Cuts

Published October 3, 2013

The Office of the Special Prosecutor – tasked with finding Iceland’s financial criminals – will be facing hundreds of millions of krónur in cuts.
As the Progressive-Independence Party coalition has been looking for where to spend more and where to make cuts, one government office will be facing huge scale-backs: the Office of the Special Prosecutor.
Vísir reports that the 2014 budget proposal outlines some 700 million ISK in cuts to the office. The proposal presumes that many of the cases the office is currently investigating will conclude next year, and that spending to this office will then be “substantially reduced”.
The cut is not a part of decreasing spending for law enforcement in general. In fact, spending for law enforcement has been increased by half a billion ISK.
The office of the Special Prosecutor has been investigating numerous banking officials for market manipulation, money laundering, and other charges. Last March, the Special Prosecutor was tasked with investigating Kaupthing, and those investigations are still ongoing.

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