Sigrún Davíðsdóttir's Icelog

Landsbanki investigation: two remain in custody after a long day

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After a day of house searches by the Office of the Special Prosecutor and questioning of seven ex-managers two of those questioned today will remain in custody. The two are the bank’s CEO Sigurjon Arnason and Steinthor Gunnarsson managers of securities.* Just before midnight it was still unclear what exactly their position. The Reykjavik County Court was tonight being asked to rule on custody but it’s unclear if there will be a verdict right away or within 24 hours, the maximum time it can take.

The other CEO of Landsbanki, Halldor Kristjansson, now lives in Canada. He seems to have been called in for questioning but it’s now known when he will return to Iceland. Elin Sigfussdottir who was a manager of corporate affairs at Landsbanki and became a CEO after the collapse of the bank has also been questioned today.

According to the OSP this investigation is one of the major investigations now being run at the OSP. It seemed for a long time that Landsbanki wasn’t being as heavily investigated as Kaupthing and Glitnir but that’s evidently no longer the case.

*Correction: in the end it wasn’t Gunnarsson, who together with Arnason, was put in front of a judge for custody but Ivar Gudjonsson manager of prop trading at Landsbanki. This morning the Reykjavik County Court hasn’t yet ruled on custody but Arnason and Gudjonsson can, as far as I understand, be held for 24 hours without a judge ruling on custody.

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Written by Sigrún Davídsdóttir

January 14th, 2011 at 12:12 am

Posted in Iceland

One Response to 'Landsbanki investigation: two remain in custody after a long day'

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  1. House searches – now?
    Isn’t that about three years too late?

    Rik Hardy

    14 Jan 11 at 1:52 am

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