First they tried to stop Wikileaks from publishing this and then the solvency committee of Kaupthing managed to get a ruling against the State Broadcasting News from talking about the findings. Absolutely useless, the information is already everywhere and only confirms what people have been asking, yes Kaupthing like the other Icelandic banks was used [...]

Attention all mortgage seekers. Baugur chief Jon Asgeir Johannesson borrowed $24 million from Landsbankinn to buy an apartment at Gramercy Park North in New York without any collateral. Stunned foreigners must scratch their head when they realize that the owners of each Icelandic bank, didn’t just borrow a whole hell of a lot of money [...]

Bjorgolfur Thor has threatened to sue Channel 2 because of the newsstory about him moving money to tax-havens in the wake of the economic crash. The channel’s news-manager has said they don’t have anything in writing as proof but is willing to stake the words of his unnamed source against the “good name” of Bjorgolfur. [...]

Since Newsweek was pointing fingers this week with its “Who’s to blame” report, it only makes sense that Icelanders start extending their index fingers. For every Fred Goodwin, there is a Bjarni Armannsson and for every David Oddson…well there are actually few people who could have made as much mess in history as David Oddson. [...]

Now that they are safe with the money they managed to transfer abroad, the chief architects of the Icelandic “economic miracle” are leaving the country. So no help with the IceSave bill from them. Hannes Smarason and Bjorgolfur Thor have been hiding in London and Cyprus according to the media. Bjarni Armannsson ran away to [...]

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 [...]

Jon Gerald Sullenberger is getting ready to take on the dominant retail family of Iceland with the new budget food store Smartkaup. Sullenberger, the business partner of Jon Asgeir Johannesson and Baugur was the key witness in the infamous lawsuit against the company a few years ago. While some are celebrating the competition that Smartkaup [...]

What is Jon Asgeir Johannesson up to next? After burning all the bridges and retail brands he could in the UK, he appears to be searching for a fashion house in NYC to invest in. Potential fellow shareholders beware. Hold on to your hats and cash.

Perhaps we should have expected a little more discretion this time round given the waves of publicity that battered his last venture, but it seems the new company is being so discreet it risks disappearing all together. Jon’s new company first appeared on Companies House as Foldtown, based at 41 Chalton Street, London. It then [...]