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Iceland Indicts Ex-Glitnir Bank Boss Armannsson for Tax Evasion

February 04, 2013

Iceland indicted the former chief executive officer of failed lender Glitnir Bank hf, Bjarni Armannsson, for tax evasion.

Armannsson failed to declare capital-gains income, interest income and the proceeds of dividends, or 199 million kronur ($1.6 million) for the 2006 to 2008 tax years, Iceland’s Special Prosecutor’s Office said in the Dec. 17 indictment, according to documents released by the office today.

A call to Armannsson’s mobile phone seeking comment after regular business hours was unanswered.

Armannsson was the head of Glitnir from 2000 until 2007. The bank was one of several debt-laden Icelandic banks to fail in October 2008.

To contact the reporter on this story: Omar R. Valdimarsson in Reykjavik at

To contact the editor responsible for this story: Jonas Bergman at

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