{"id":60341,"date":"2015-06-29T12:00:32","date_gmt":"2015-06-29T11:00:32","guid":{"rendered":"https:\/\/www.transcend.org\/tms\/?p=60341"},"modified":"2015-06-27T16:54:04","modified_gmt":"2015-06-27T15:54:04","slug":"iceland-just-jailed-7-bank-executives-for-market-manipulation","status":"publish","type":"post","link":"https:\/\/www.transcend.org\/tms\/2015\/06\/iceland-just-jailed-7-bank-executives-for-market-manipulation\/","title":{"rendered":"Iceland Just Jailed 7 Bank Executives for Market Manipulation"},"content":{"rendered":"<p><em>Their sentences range from one to four years.<\/em><\/p>\n<p><a href=\"https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2015\/06\/jail-400x267-cell-prison.jpg\" ><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-60342\" src=\"https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2015\/06\/jail-400x267-cell-prison.jpg\" alt=\"jail-400x267 cell prison\" width=\"400\" height=\"267\" srcset=\"https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2015\/06\/jail-400x267-cell-prison.jpg 400w, https:\/\/www.transcend.org\/tms\/wp-content\/uploads\/2015\/06\/jail-400x267-cell-prison-300x200.jpg 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><\/p>\n<p><em>27 Jun 2015 &#8211; <\/em>In one of the biggest cases of its kind, seven executives from the Kaup\u00feing bank have been handed prison sentences\u00a0for market manipulation today.<\/p>\n<p><em>According to The\u00a0<a target=\"_blank\" href=\"http:\/\/icelandmonitor.mbl.is\/news\/news\/2015\/06\/26\/kaupthing_executives_jailed\/\" >icelandmonitor<\/a>: \u201cBy fully financing share purchases with no other surety than the shares themselves, the bank was accused of giving a false and misleading impression of demand for Kaup\u00feingi shares by means of deception and pretence.\u201d<\/em><\/p>\n<p>They were accused of trying to artificially inflate share prices in 2008 by using the bank\u2019s funds to buy shares.<\/p>\n<p>The <a target=\"_blank\" href=\"http:\/\/icelandreview.com\/news\/2015\/06\/26\/more-kaupthing-execs-jailed\" >Iceland Reveiew<\/a> reported:<em> The court case began in late April, and the hearings were the most wide-ranging and complex in Icelandic legal history. Over 50 witnesses were called, and testimony lasted for many weeks. They were quizzed on the nine defendants\u2019 suspected illegal trade in their own bank\u2019s shares in the lead up to its collapse. Charges laid by the Special Prosecutor claimed that the widespread illegal trade was carefully choreographed and highly deceptive.<\/em><\/p>\n<p>By jailing these executives of Iceland\u2019s failed Kaupthing Bank, the country showed the world how to deal with corrupt banks.<\/p>\n<p>httpv:\/\/www.youtube.com\/watch?v=Wi0QPr0VDvs<\/p>\n<p>_____________________________________<\/p>\n<p><em>This article is free and open source. You have permission to republish it under a\u00a0<\/em><a target=\"_blank\" href=\"http:\/\/creativecommons.org\/licenses\/by\/4.0\/\" ><em>Creative Commons<\/em><\/a><em>\u00a0license with attribution to the author and\u00a0<\/em><a target=\"_blank\" href=\"http:\/\/www.trueactivist.com\/\" ><em>TrueActivist.com<\/em><\/a><em>.<\/em><\/p>\n<p><a target=\"_blank\" href=\"http:\/\/www.trueactivist.com\/iceland-just-jailed-7-bank-executives-for-market-manipulation\/?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+TrueActivist+%28True+Activist%29\" >Go to Original \u2013 trueactivist.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>27 Jun 2015 &#8211; In one of the biggest cases of its kind, seven executives from the Kaup\u00feing bank have been handed prison sentences for market manipulation today.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51],"tags":[],"class_list":["post-60341","post","type-post","status-publish","format-standard","hentry","category-europe"],"_links":{"self":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/60341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/comments?post=60341"}],"version-history":[{"count":0,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/60341\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media?parent=60341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/categories?post=60341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/tags?post=60341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}