Words by

Nanna Árnadóttir

@nannaarnadottir

Photo by

Natsha Nandabhiwat

Ingólfur Helgason, former Chief Executive of Kaupthing Bank, has been ordered by the Reykjavík District Court to repay debts to the tune of 167 million ISK, reports RÚV. 

In all Ingólfur owes Arion Bank 167 million ISK in 2 unpaid loans. He will now have to repay 149 million ISK for the first loan and 18 million ISK in the second, plus interest.

This is not Ingólfur’s first run in with the law. Last year Ingólfur was ordered by the Reykjavík District Court to pay back over a billion ISK of stock purchase loans he received before the crash.