Former Glitnir Bank head indicted in Reykjavik

glitnir logoThe former boss of Glitnir Bank has been formally indicted for tax evasion, Icelandic officials announced on Monday 4 February. Charges against Bjarni Armannsson, who resigned as the failed lender’s chief executive in 2007 prior to the country’s banking collapse, were officially filed on 17 December, according to a Bloomberg report issued on Monday.

The Special Prosecutor’s Office said in the newly-published indictment papers that Armannsson intentionally opted not to declare nearly ISK 199 million (EUR 1.17 million) in income from dividends, capital gains and interest during the 2006 and 2008 tax years.

Armannsson, who worked as the bank’s top official from 2000 until 2007, did not respond to Bloomberg’s request for comment at the weekend.