Iceland Bankers Found 'Not Guilty' on Most Charges in Aurum and Imon Cases

Verdicts Announced in Aurum and Imon Cases

http://icelandreview.com/news/2014/06/06/verdicts-announced-aurum-and-imon-cases

The verdicts in the so-called Arum and Imon cases were announced at Reykjavík District Court yesterday. All defendants in the former case were acquitted and all but one in the second. The Office of the Special Prosecutor must cover ISK 73 million (USD 648,000, EUR 475,000) in legal costs.

In the Aurum case, former CEO of Glitnir Bank Lárus Welding, investor Jón Ásgeir Jóhannesson and Glitnir employees Magnús Arnar Arngrímsson and Bjarni Jóhannesson, all of whom had been charged with market manipulation, were found not guilty, Fréttablaðið reports [06.06.14.]

One out of three judges believed that Lárus, Jón Ásgeir and Magnús Arnar should have been convicted.

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The verdict further stated that the special prosecutor had been in violation of the law when tapping the phones of Sigurjón and Elín while investigating the Imon case.

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