Iceland: what ugly secrets are waiting to be exposed in the meltdown?
The Daily Bell
16 Settembre 2009
Almost a year since the
collapse of the Icelandic banks, the rotten nature of these financial
corpses is slowly beginning to emerge. Iceland: what ugly secrets are
waiting to be exposed in the meltdown? For months rumours of
share-ramping, market manipulation, excessive loans to their owners and
unusual transfers off-shore have been circling Kaupthing, Glitnir and
Landsbanki, whose failure last October left 300,000 British customers
unable to access their money. It has now become clear that this was no
ordinary crash. Iceland's special investigation into "suspicions of
criminal activity" at the three banks is likely to stretch from
Reykjavik to London, Luxembourg and the British Virgin Islands. Eva
Joly, the French-Norwegian MEP and fraud expert hired by Iceland and
now working with the Serious Fraud Office, now believes it will be "the
largest investigation in history of an economic and banking bank
collapse". - Telegraph
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