Iceland Just Jailed Seven Bank Executives for Market Manipulation
Page 1 of 1
Iceland Just Jailed Seven Bank Executives for Market Manipulation
In one of the biggest cases of its kind, seven executives from the Kaupþing bank have been handed prison sentences for market manipulation today.
According to The icelandmonitor: “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.”
They were accused of trying to artificially inflate share prices in 2008 by using the bank’s funds to buy shares.
The Iceland Reveiew reported: The court case began in late April, and the hearings were the most wide-ranging and complex in Icelandic legal history. Over 50 witnesses were called, and testimony lasted for many weeks. They were quizzed on the nine defendants’ suspected illegal trade in their own bank’s shares in the lead up to its collapse. Charges laid by the Special Prosecutor claimed that the widespread illegal trade was carefully choreographed and highly deceptive.
By jailing these executives of Iceland’s failed Kaupthing Bank, the country showed the world how to deal with corrupt banks.
- See more at: http://bullhorn.nationofchange.org/iceland_jailed_bank_executives_for_market_manipulation#sthash.W4Jm6mpY.nATyNd2b.dpuf
That's the way to do it, instead of promoting them into Government positions.
According to The icelandmonitor: “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.”
They were accused of trying to artificially inflate share prices in 2008 by using the bank’s funds to buy shares.
The Iceland Reveiew reported: The court case began in late April, and the hearings were the most wide-ranging and complex in Icelandic legal history. Over 50 witnesses were called, and testimony lasted for many weeks. They were quizzed on the nine defendants’ suspected illegal trade in their own bank’s shares in the lead up to its collapse. Charges laid by the Special Prosecutor claimed that the widespread illegal trade was carefully choreographed and highly deceptive.
By jailing these executives of Iceland’s failed Kaupthing Bank, the country showed the world how to deal with corrupt banks.
- See more at: http://bullhorn.nationofchange.org/iceland_jailed_bank_executives_for_market_manipulation#sthash.W4Jm6mpY.nATyNd2b.dpuf
That's the way to do it, instead of promoting them into Government positions.
Guest- Guest
Re: Iceland Just Jailed Seven Bank Executives for Market Manipulation
Wonder why our lot couldn't do that as well. Of course in this country they get a huge financial package as a pay off just to 'go' and in some cases a knighthood probably.
Well done Iceland.
Well done Iceland.
Irn Bru- The Tartan terror. Keeper of the royal sporran. Chief Haggis Hunter
- Posts : 7719
Join date : 2013-12-11
Location : Edinburgh
Similar topics
» Bank of England governor faces grilling from MPs over forex rigging - New Bank Scandal
» Rees-Mogg criticised over firm's Russian bank investment MP who sought tough sanctions is partner in firm that has £60m invested in Russia’s largest bank
» Iceland issues Bardarbunga volcano red alert
» Remember: the media is subject to manipulation by powerful interests as much as anything else
» Iceland Considers Banning the Mutilation of Babies Genitals.
» Rees-Mogg criticised over firm's Russian bank investment MP who sought tough sanctions is partner in firm that has £60m invested in Russia’s largest bank
» Iceland issues Bardarbunga volcano red alert
» Remember: the media is subject to manipulation by powerful interests as much as anything else
» Iceland Considers Banning the Mutilation of Babies Genitals.
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Sat Mar 18, 2023 12:28 pm by Ben Reilly
» TOTAL MADNESS Great British Railway Journeys among shows flagged by counter terror scheme ‘for encouraging far-right sympathies
Wed Feb 22, 2023 5:14 pm by Tommy Monk
» Interesting COVID figures
Tue Feb 21, 2023 5:00 am by Tommy Monk
» HAPPY CHRISTMAS.
Sun Jan 01, 2023 7:33 pm by Tommy Monk
» The Fight Over Climate Change is Over (The Greenies Won!)
Thu Dec 15, 2022 3:59 pm by Tommy Monk
» Trump supporter murders wife, kills family dog, shoots daughter
Mon Dec 12, 2022 1:21 am by 'Wolfie
» Quill
Thu Oct 20, 2022 10:28 pm by Tommy Monk
» Algerian Woman under investigation for torture and murder of French girl, 12, whose body was found in plastic case in Paris
Thu Oct 20, 2022 10:04 pm by Tommy Monk
» Wind turbines cool down the Earth (edited with better video link)
Sun Oct 16, 2022 9:19 am by Ben Reilly
» Saying goodbye to our Queen.
Sun Sep 25, 2022 9:02 pm by Maddog
» PHEW.
Sat Sep 17, 2022 6:33 pm by Syl
» And here's some more enrichment...
Thu Sep 15, 2022 3:46 pm by Ben Reilly
» John F Kennedy Assassination
Thu Sep 15, 2022 3:40 pm by Ben Reilly
» Where is everyone lately...?
Thu Sep 15, 2022 3:33 pm by Ben Reilly
» London violence over the weekend...
Mon Sep 05, 2022 2:19 pm by Tommy Monk
» Why should anyone believe anything that Mo Farah says...!?
Wed Jul 13, 2022 1:44 am by Tommy Monk
» Liverpool Labour defends mayor role poll after turnout was only 3% and they say they will push ahead with the option that was least preferred!!!
Mon Jul 11, 2022 1:11 pm by Tommy Monk
» Labour leader Keir Stammer can't answer the simple question of whether a woman has a penis or not...
Mon Jul 11, 2022 3:58 am by Tommy Monk
» More evidence of remoaners still trying to overturn Brexit... and this is a conservative MP who should be drummed out of the party and out of parliament!
Sun Jul 10, 2022 10:50 pm by Tommy Monk
» R Kelly 30 years, Ghislaine Maxwell 20 years... but here in UK...
Fri Jul 08, 2022 5:31 pm by Original Quill