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.
Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.
Wall Street Stunned As Iceland Dares To Jail Banker Involved In 2008 Crash
Submitted by Tyler Durden on 11/20/2014 22:02 -0500
Bond
Creditors
headlines
Iceland
Reuters
inShare3
The impossible is possible. Never say never. Wall Street bankers are staring agog at headlines coming from Europe where, in Iceland, the former chief executive of one of the largest banks in the country which was involved in crashing the economy in 2008 has been sentenced to jail time. As Valuewalk reports, in receiving a one year prison sentence, Sigurjon Arnason officially became the first bank executive to be convicted of manipulating the bank’s stock price and deceiving investors, creditors and the authorities between Sept. 29 and Oct. 3, 2008, as the bank’s fortunes unwound, crashing the economy with it. It appears he was as shocked by the verdict as Wall Street-ers are, "this sentence is a big surprise to me as...
http://www.icenews.is/2014/07/13/former-kaupthing-bosses-charged-with-fraud/
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...
14 September 2012 Last updated at 10:21 GMTHelp
Just four years after Iceland's major banks collapsed and the currency plunged in value, the nation is now being praised by the IMF.
The country has seen a return to strong growth and has spared its citizens many of the austerity measures felt elsewhere in Europe.
Paul Henley reports.
Video: http://www.bbc.co.uk/news/business-19599449
(Note: it may take a few goes to get the video to play)
...
Iceland Leading the Way
Iceland’s special prosecutor into the banking crisis has confirmed that raids have taken place today and that arrests have been made. The Central Bank of Iceland is among the institutions under investigation.
Special Prosecutor, Olafur Thor Hauksson told Visir.is that house searches are taking place in at least three places today as part of investigations into the central bank, MP Bank and Straumur Bank.
Stefan Johann Stefansson at the central bank confirmed that agents were in the building conducting searches; and it has also been confirmed that searches are underway at MP Bank and ALMC (formerly Straumur).
An ALMC spokesman said that the premises are indeed being searched and that the bank’s staff members are doing their best to help.
In other news, four people have so far been arrested today in connection with the special prosecutor’s investigation into Landsbanki.
One...
Wall Street Stunned As Iceland Dares To Jail Banker Involved In 2008 Crash
Submitted by Tyler Durden on 11/20/2014 22:02 -0500
Bond
Creditors
headlines
Iceland
Reuters
inShare3
The impossible is possible. Never say never. Wall Street bankers are staring agog at headlines coming from Europe where, in Iceland, the former chief executive of one of the largest banks in the country which was involved in crashing the economy in 2008 has been sentenced to jail time. As Valuewalk reports, in receiving a one year prison sentence, Sigurjon Arnason officially became the first bank executive to be convicted of manipulating the bank’s stock price and deceiving investors, creditors and the authorities between Sept. 29 and Oct. 3, 2008, as the bank’s fortunes unwound, crashing the economy with it. It appears he was as shocked by the verdict as Wall Street-ers are, "this sentence is a big surprise to me as...
well.. he's going to do well in jail...NOT he's got the criminal experience behind him but I'm not sure if he can strike up a dea
