Saturday, December 29, 2012

Two bankers in Iceland sentenced to jail for fraud

TWO former CEO´s at an Icelandic bank which collapsed in the 2008 financial meltdown were sentenced to jail on Friday.
The former bankers are , Larus Welding, and former head of corporate finance at Glitnir Bank, Gudmundur Hjaltason, each to nine months in jail.
And six months are suspended for two years .
The sentence was less than the jail terms of at least five years demanded by Iceland's special prosecutor.
People in Iceland look on the sentence as a joke , sentencing them for only three months in jail.

1 comment:

  1. how about they make restitution? is the classic Icelandic justice system?