Icelandic authorities have arrested the former chief executive of collapsed bank Kaupthing, in the first high profile arrest following the country's financial collapse.
Hreidar Mar Sigurdsson was detained today by the special prosecutor in charge of investigating the Icelandic banking crash in October 2008. The prosecutor's office says Sigurdsson is suspected of embezzlement, falsifying documents and breaking laws on stock trading for personal gain. Former banker Sigurdsson is being held in police custody until a hearing scheduled to take place Friday at the Reykjavik District Court to decide whether he will be granted bail. Special Prosecutor Ólafur Thór Hauksson bases his investigation on charges from the Financial Supervisory Authority and oth...
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