Five In Custody For Tax And Accounting Offenses

A major operation is underway that has targeted 11 locations for tax and accounting fraud, with multiple arrests.

RÚV reports that five people are in custody after a major police operation was launched Tuesday morning. Nine arrests were made in all, and 11 locations were raided by the police, where accounting books were seized as evidence.

All of these companies are contractors for construction companies, and they are all suspected of engaging in tax and accounting fraud, as well as money laundering. Icelanders and foreigners alike were questioned or taken into custody by the police.

District Prosecutor Ólafur Þór Hauksson told reporters that the operation involved efforts from the police and tax authorities. He would not disclose just how many companies are being targeted by the operation, but said that they involve illegal activities concerning very large amounts of money.

More details will be reported on as they arise.