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Iceland: where bankers go to jail for 74 years

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Interesting read:



...Eleven Icelandic former bankers have been sentenced to at least 4½ years in prison. The sentences are longest for the most senior figures within the banks.


Magnus Sveinn Helgason, who worked for the Icelandic government’s inquiry into the crash, told The Daily Beast that the evidence seen by him and his colleagues suggested there would be many more successful prosecutions to come.


“This is just the beginning,” he said. “I was kind of surprised when they were sentenced because you get used to people getting away with these things but many of these were just open-and-shut cases. There were textbook examples of insider trading, in some cases it was so egregious that it looked as though someone had made it up as a joke.”




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