Monday June 1, 2020

Iceland’s way or Ireland’s way?

Iceland has sent four former bankers to prison, but the Revenue Commissioners here, as in Britain, do not intend to pursue criminal tax avoiders in the HSBC scandal

15th February, 2015
The numbers involved in the HSBC scandals are eye-watering

Iceland knows how to deal with bankers who commit illegal acts in the course of their duties.

Last week, four former bank officials from the Kaupthing bank were sentenced to between four and five-and-a-half years in prison, and asked to pay their full legal costs of close to €700,000. Ouch. The same bankers face further charges of fraud and market manipulation. Corporate malfeasance meets personal consequences for those who break the rules.

But Iceland is...

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