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Ágúst Gudmundsson

The ties that bind. And make you incompetent.

January 27, 2010

So, the Office of the Special Investigator into the bank collapse carried out a series of raids yesterday in conjunction with the Serious Fraud Office in the UK [as Andrew mentioned in the comments to the last post]. The raids are aimed at brothers Ágúst and Lýður Guðmundsson, former owners of Kaupthing bank, and in [...]

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Serious Fraud Office launches investigation into Kaupthing bank

December 17, 2009

So, the Serious Fraud Office in the UK has launched a large-scale investigation into the activities of Kaupthing bank in the lead-up to the bank collapse last fall. Rumours to that effect have been circulating for weeks, and were finally confirmed today. Among other things, this concerns what seems like large-scale money transfers out of [...]

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iPhones to fund moguls’ debt repayments?

November 25, 2009

Big news everybody:  iPhones have officially landed in Iceland, meaning we can now actually buy them here AND use them without having to hack them first. Apparently iPhones are this year’s Christmas present, or so the phone companies would have us believe. Incidentally, two of the three major telecommunications companies on the Icelandic market are [...]

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Kaupthing’s loan book exposed and an injunction ordered against RÚV

August 1, 2009

Yesterday the website WikiLeaks* published TOP SECRET information about loans made by Kaupthing bank just before the Big Meltdown last October. The info is a 209-page inside document containing slides used at a meeting of the bank’s loans committee on September 25 last year. The leaked document shows definitively that the bank made massive, high-risk [...]

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Here are the charred ruins of Landsbanki. Now kindly write off our ISK 3 billion debt

July 9, 2009

I think it’s safe to say that the collective Icelandic nation pretty much keeled over at the news two days ago that the two Björgólfurs had allegedly requested that Kaupthing bank write off half of a loan used for acquiring a controlling share in Landsbanki in 2003 – an ISK 3 billion debt. Quick rewind: [...]

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