Iceland Jails Kaupthing Bankers for Market Manipulation

February 13, 2015 1:51 PM

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Iceland's Supreme Court has upheld prison sentences for four Kaupthing bank executives, the heaviest sentences for financial fraud in Iceland's history, for their role in the nation's devastating 2008 financial collapse.

The court Thursday rejected their appeals. The four executives were convicted of market manipulation that took place shortly before the bank collapsed in 2008. Many bankers had been seen as symbols of Iceland's economic excellence before the crisis when the banking sector's assets grew to 10 times t...

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