This should be big news. Today’s Frettabladid reports the following:
“Two young men, born in 1989 and 1990 who are suspected of massive financial fraud are being kept in isolation under arrest because of the seriousness of their case. This is revealed in the courts’ verdict at their hearing.
The men are believed to have drawn at least 50 million out of two limited companies and the State Housing Fund, by taking over the management of the companies amongst other things. As Frettabladid has reported before, more individuals are believed to play a role in the case. At the point of writing last night, more arrests had not been made.”
Now what did Eva Joly say about the judicial system of the west being designed to close up small time crooks and protect the largest ones?
The reporter and the court probably ain’t kidding either. How absurd is this the day after the revelations that the largest owners and top management of the Icelandic banks had taken their money away from the banks as they collapsed and hidden them in tax havens around the world?
How ridiculous does “the seriousness of their case” sound when it is clear that Landsbankinn’s owners lent themselves 114% of its equity when they were allowed only 25%?
How stupid is their isolation in comparison with Olafur Olafsson’s top man, Arni Tomasson sitting on the solvency board of Glitnir?
How mind-boggling is the case in comparison with Glitnir’s and Kaupthing’s market manipulation through Stim ehf. and the Al-Thani business?
How Jon Asgeir Johannesson and those who took over the Savings & Loans of Hafnarfjordur and milked its owners’ equity dry must smile onboard their yachts when they read about those that don’t get away?
Should a news report like that, made in context with what is taking place in society, make you laugh or cry?
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Fraudsters in Isolation – Arrests Finally Made In Iceland | iceland today
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