Kaupthing Bankers on Trial, Again

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2015-04-20 23

The Reykjavík District Court began hearing oral testimony on Monday in the largest case relating to the events leading up to the crash of 2008. Nine former managers of Kaupthing bank are on trial for market manipulation in the 11 months leading up to the bank’s collapse, along with the rest of the Icelandic financial system in the fall of 2008. Over fifty witnesses are scheduled to appear before the judge, a process expected to take seventeen days, followed by five days of oral arguments.