Unlike the Obama Administration Justice Department, the Icelandic Supreme Court and Reykjavik District Court have found the five top bankers from Landsbankinn and Kaupping — the two largest banks in the country – guilty of market manipulation, embezzlement, and breach of fiduciary duties (i.e. fraud).
Unfortunately, the maximum sentence for these crimes is six years, but Iceland’s Supreme Court is currently hearing arguments for expanding these sentences.
Continue reading: Iceland sentences 26 bankers to a combined 74 years in prison
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