“Marple Case” Sentences Handed Down

Prison sentences were handed down to three of the four financiers charged with fraud and embezzlement in the so-called Marple Case today.

Vísir reports that former Kaupþing director Hreiðar Már Sigurðsson; former Kaupthing Luxembourg director Magnús Guðmundsson and investor Skúli Þorvaldsson have been found guilty in Reykjavík District Court today of engaging in or enabling embezzlement and fraud. They will receive six, 18 and six months in prison, respectively. In addition, the three were also sentenced to pay their defense attorneys 24 million ISK, 12 million ISK and 18 million ISK, respectively.

The fourth defendant in the Marple Case – former Kaupthing Director of Finance Guðný Arna Sveinsdóttir – was acquitted. The state has been ordered to cover her legal fees, valued at 18 million ISK.

The case centres around accusations that the four were involved in transferring some 8 billion ISK from Kaupthing into Marple Holding, which is owned by Skúli. Last March, Hreiðar Már was found guilty of market manipulation while working at Kaupþing, and is already serving a five-and-a-half year sentence. Magnús is also serving four and a half years in prison for market manipulation.