Travel bans imposed by SFO on banking executives

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2009-12-17 13

"Icelandic banker issued travel ban

By Alex on Dec 18, 2009 in Finance and Business, Iceland, MBL, Politics, Travel and Leisure, United Kingdom

kronur1The former Chairman of the Board at Byr Savings Bank in Iceland, Jon Thorsteinn Jonsson, has been issued with a travel ban due to the current investigation into Byr and the Exeter holding company being carried out by the Special Prosecutor. He is the only person to so far be barred from leaving Iceland by the Special Prosecutor.

According to Frettabladid, the state had good reason to issue the travel ban following the Special Prosecutor’s November house searches of Byr and MP Bank related to the case – not least because Jonsson has recently changed his legal residence address to London, making him highly likely to leave Iceland at any time.

Jonsson was arrested during the house searches at the end of November, like other people under investigation were also. He was then held longest of all, remaining behind bars for nearly 24 hours before release.

The travel ban lasts over the weekend and it is not yet known whether the Special Prosecutor will ask for another."