The bond which the investment fund Fyrirtaekjabref Landsbankans bought from Bjorgolfur Gudmundsson in 2005 for ISK 400 million was used to finance the setting up of a memorial fund for Gudmundsson’s daughter.
According to the business paper Vidskiptabladid, the owners of Landsbanki felt at the time that it was quite natural to finance the founding of the fund; but the fund was actually begun at the beginning of 2005 when Gudmundsson and his wife deposited ISK 500 million.
Fyrirtaekjabref Landsbankans was a business investment fund owned by Landsbanki. Bjorgolfur Gudmundsson was majority owner and chairman of Landsbanki at the time.
His daughter Margret died in an accident in 1989 aged just 33. Since its establishment, the Margret Bjorgolfsdottir Memorial Fund has regularly donated money to all sorts of worthy causes.
Yet another story of depositors’ money being unlawfully given away. Has anyone checked whether they really were banks? It’s possible they were actually registered charities with mandates to redistribute donations (we incorrectly think they were deposits) to Icelandic causes as they saw fit.
So predictable. Seriously, I had not one doubt.
IT IS SO SAD THIS MAN USING HIS PASSED WAY DAUGHTERS NAME TO CREATE SUCH A LIE AND MAKE MONEY OF IT ALL. SOME PEOPLE HAS NO MORAL VALUES AT ALL. ALL FOR MONEY THEY SAY…