Occupy Iceland: Prosecutors Seek Harsher Penalties for Price Fixing Bankers…(Not In AmeriKa!!)
SputnikNews.com
16.01.2016
A prosecutor in Iceland is calling for harsher jail sentences for three bankers charged with price manipulation of shares in Landsbankinn.
Sigurjón Árnason, Ívar Guðjónsson and Júlíus S. Heiðarsson face just nine to twelve months in jail. They are also accused of mis-guiding investors, creditors, the authorities, and the community at large.
Still, the aftermath of their trial is seen by some as a victory for the Icelandic justice system. Their sentencing brings the total number of bankers jailed for wrongdoing in Iceland since the global financial meltdown of 2008 to 26. That amounts to a total of 74 years worth of prison sentences.
Meanwhile in the United States, prosecution for white-collar crime stands at a 20-year-low and prosecution of corporations dropped by 29 percent between 2004 and 2014.
The think-tank Center for American Progress’s ThinkProgress.com attributes the trend to the Department of Justice’s focus on negotiating settlements rather than taking cases to courts. These numbers hold still despite the banking industry’s links to the financial crisis.
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