Iceland arrests another Kaupthing boss

gavelMagnus Gudmundsson, the former head of Kaupthing Bank in Luxembourg and the current head of Banque Havilland, has also been arrested in connection to the Icelandic Special Prosecutor’s investigation into the banking collapse.

Former Kaupthing CEO Hreidar Mar Sigurdsson was also arrested yesterday.

Magnus Gudmundsson worked for Kaupthing for many years and was a close friend and ally of Hreidar Mar Sigurdsson and former Chair of the Board, Sugurdur Einarsson.

According to, both South Iceland prisons are full, meaning that the Kaupthing pair were held at a police station overnight, pending their bail hearing today.

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