Kaupthing Bankers Acquitted Of Additional Charges

Reykjavík District Court has acquitted three Kaupthing bankers of additional charges added to the ones they are already convicted of committing.

RÚV reports that the court ruled this morning to acquit former Kaupþing director Hreiðar Már Sigurðsson, former Kaupthing Chairperson of the Board Sigurður Einarsson, and former Kaupthing Luxembourg CEO Magnús Guðmundsson.

The three stood accused of market manipulation, in particular by lending some 70 billion ISK in the week before the bank crash to high-rolling clients of Kaupthing.

Björn Þorvaldsson, the prosecutor in the case, told reporters that there are a number of comments he would make on the ruling. For now, he will concentrate on deciding whether or not to appeal the matter to the Supreme Court.

These three bankers are amongst those already in prison for fraud and market manipulation. They recently gave an extended television interview where they complained that they were being singled out by the media and were subjected to bullying.