Sigrún Davíðsdóttir's Icelog

The Landsbanki questioning: status

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Two of Landbanki managers are now in custody at Litla Hraun, an old prison ca 45 km from Reykjavik, close to the little fishing villages at Stokkseyri and Eyrabakki. The bank’s ex-CEO Sigurjon Arnason will remain in custody for eleven days, until Jan. 27. Ivar Gudjonsson ex-manager of proprietary trading will be in custody for a week, until Jan. 21.

The bank’s other CEO Halldor Kristjansson who now lives in Canada is expected to arrive in Iceland on Sunday. Thorunn Gudmundsdottir lawyer for Bjorgolfur Gudmundsson has confirmed that the Office of the Special Prosecutor has asked her for information on Gudmundsson’s whereabouts. According to her, Gudmundsson is on vacation in London, expected to stay there for the coming two weeks but would return to Iceland if asked to. His son, Bjorgolfur Thor, ex-chairman of their other bank, Straumur, and owner of the investment fund Novator lives in London.

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Written by Sigrún Davídsdóttir

January 14th, 2011 at 10:06 pm

Posted in Iceland

7 Responses to 'The Landsbanki questioning: status'

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  1. What is this prison like? Can he do a take-out of lobster from Við fjöruborðið?

  2. Rajan, Litla Hroin is a prison. A polite prison but still prison. They are probably in a locked down solitary confinement. I woke up in a good mood this morning.
    Takk fyrir bloggið Sigrún.


    15 Jan 11 at 1:12 am

  3. As Lee says it’s a prison. The fare for those in custody is solitary confinement, grey track suit with ‘Litla Hraun’ stamped on it as well as prison socks and prison underwear, i.e. no personal clothing items according to the Icelandic media. The cell has a bed, a desk, a chair and a toilet. It’s a well documented fact that prison is a shattering experience for white collar criminals or those alleged of such crimes. A stay at Litla Hraun is no joking matter and no lobster on the table.

  4. Lee and Sigrún,

    Thank you for elaborating.

    My initial comment was made tongue-in-cheek. Near Kirkjufell in Grundarfjörður my guide & friend Börkur once showed me a ‘prison’ which he said was for the big shots of Iceland. I found it amusing because the setting looked idyllic and picture-perfect, and asked him what crime would I have to commit to be able to get there (never mind that I ain’t a big shot or Icelander). So I wondered if Litla Hraun was anything of the kind.

    Rajan P. Parrikar

    15 Jan 11 at 5:54 pm

  5. Rajan, the prison you saw is Kvíabryggja, earlier used for men who didn’t pay child allowance to women with whom they had children (but weren’t living with). Now an ‘open prison’, i.e. for men who can be trusted not to run away: no bars or barbed wire. Since the Icelandic country side is generally picture perfect that’s what the surroundings of Kvíabryggja is like. And actually, the surroundings of Litla Hraun too – but Litla Hraun has walls around etc. Here is the website for Litla Hraun, – and there is a link to Kvíabryggja as well – for those who want to see where the Landsbanki managers are staying now.

  6. And the authorities are expecting (hoping) an increase in ,,white collar” criminal sentences, so there is a ,,new” prison now, on the south shore, not far away from Litla Hraun. Like Kvíabryggja, it has no bars or fences, but is still a prison.
    As it is now, there is a four year ,,waiting list” to serve time for some ,,non-violent” crimes.

    Börkur Hrólfsson

    16 Jan 11 at 2:05 am

  7. Thanks Börkur, didn’t know about the new prison. And Börkur is right: there is a long ‘waiting list’ for those sentenced, to be ‘housed’ – and the pressure on the courts is also increasing. There is now a debate on either appointing more judged or, more likely, adding a new court stage.

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