From Iceland — Former University CFO Sentenced For Embezzlement

Former University CFO Sentenced For Embezzlement

Published January 7, 2014

The former CFO of the University of Iceland was today sentenced to nine months in prison for embezzlement and fraud – six months of which are probationary.

In the decision, published by the Reykjanes District Court today, the accused allegedly used the university credit card on 59 separate occasions, between February 2007 and December 2011. On those occasions, they spent money on cabs, restaurants, and hotel rooms, amongst other things, with expenditures totaling 1,390,591 ISK.

The accused furthermore reportedly tricked the university treasurer into writing off the expenditures at the cost of the school.

According to the court’s decision, the accused readily and openly confessed to their crime, and has never been convicted of a crime before. They have also since made re-payment arrangements with the university. This the court took into consideration before sentencing.

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