State prosecutor demands heavier sentence for bankers
Sigurjón Þ. Árnason was sentenced to 12 months prison at Reykjavik District Court. The state prosecutor demands a heavier sentence for him as well as the others involved. Mbl.is/ Þórður
The state prosecutor in the market abuse case of Landsbankinn where three bankers were sentenced to prison is demanding a heavier sentence. Sigurjón Árnason, Ívar Guðjónsson and Júlíus S. Heiðarsson were sentenced for price manipulation of shares in Landsbanki Íslands and by that deceiving investors, creditors, Icelandic authorities and the community at large.
The bankers were sentenced to 9-12 months prison by the Reykjavik District Court but made an appeal.
The matter was taken up at the High Court of Iceland this morning.
The prosecutor, Arnþrúður Þórarinsdóttir says that the business pattern within the bank's own holdings was so incredible that it couldn't amount to anything but punishable conduct.
Árnason received a three year prison sentence in the so-called Ímon case.
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