More Kaupthing Executives jailed

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2015-06-25 23

Six defendants in the Kaupþing market manipulation case, the biggest case of this type in Iceland’s history, have been handed prison sentences ranging from one year to four years and six months.

By fully financing share purchases with no other surety than the shares themselves, the bank was accused of giving a false and misleading impression of demand for Kaupþingi shares by means of deception and pretence.
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See also here: http://icelandreview.com/news/2015/06/26/more-kaupthing-execs-jailed
and here: http://uti.is/2015/06/yet-another-fraud-investigation-ending-in-prison-s...