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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.


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BFCSA: Iceland charge KAUPTHING bosses with fraud - other alleged crimes

Posted by on in Justice against White Collar Criminals
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Former Kaupthing bosses charged with fraud

Business, Finance, Iceland

10:24 am July 13, 2014


The former chief executive and chief financial officers of Kaupthing have been charged with fraud and breach of trust by Iceland’s special prosecutor.

According to the indictment, Hreidar Sigurdsson and Gudny Sveinsdottir, the CEO and CFO respectively, have been charged with fraud linked to financial transactions carried out in 2007. Kaupthing Luxembourg’s managing director Magnus Gudmundsson and investor Skuli Thorvaldsson have also been charged for their roles in the alleged crimes.

The North Atlantic island’s three biggest banks collapsed in 2008 amid the global financial crisis and the special prosecutor has been pursuing cases against a number of former employees of the three banks for the roles they played in the crisis.

The alleged fraud is linked to a 6bn Icelandic kronor transfer from Kaupthing to Marple Holdings, which is owned by Thorvaldsson, and Kaupthing’s subsequent purchase of bonds from Marple. The special prosecutor wants all four imprisoned. The trial date has yet to be set.


It is now the fourth time Gudmundsson and Sigurdsson have been indicted by the special prosecutor. Both were convicted towards the end of 2013 of market abuses linked to a large stake acquired in Kaupthing by a Qatari sheikh prior to the collapse. The pair, who are now working as financial consultants in Luxembourg, have appealed the verdict.

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