13 thoughts on “Byr Savings Bank former Chairman Jon Thorsteinn Jonsson and the lender’s ex-Chief Executive Officer Ragnar Zophonias Gudjonsson were today found guilty of fraud and sentenced to four and half years in prison by Iceland’s Supreme Court.”

  1. Dr. Richard Head

    It’s a start at least, but 4.5 years? Drug users get more time than that here in the old US of A. At least it was something though.
    Ég er Íslendingur.

  2. Sirial

    On one hand really amazing to see a few bankers in jail.
    On other hand 4.5 years is a slap on the wrist.
    Not sure if the judge understands the magnitude of their crimes.

  4. TheGreek

    I bet that having a career as a bankster and doing a 4 year stint qualifies them for some sort of politician role or perhaps even the next head of the IMF?

  6. Sleep Well Silver

    Iceland is a start at least but yet white collar crime still pays. Let us do the math 6.2 million and 4.5 years equals $1,377,777.00 US dollars a year divided by 2000 hours a year based on 40 hours a week accounting for a 2 week vacation. $1,377,777.00 divided by 2000 hours equals $688.88 US dollars an hour and or $27,555.54 US dollars a week plus benefits.

    Benefits : Dental, Eye, Medical and 3 hot,s and a cot. And if the tax payers of Iceland get any thing out of it may be 12 inches were it belongs.

  8. Badsey

    Iceland needs a Guantanamo Bay to put these financial terrorists into indefinitely. But at least Iceland does something while MFGlobal’s Corzine hits the media, political and congressional circuses in the US and around the World never paying for any of his financial crimes.

  11. Flopot

    I don’t mind the short sentence but these guys need all their wealth taken away and must be barred from ever taking up another financial post.

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