All four defendants in the so-called Al-Thani case, which opened in Reykjavík District Court yesterday, maintain their innocence in charges of market abuse and breach of trust filed by the Special Prosecutor’s Office.

Reykjavík District Court.

These are former Kaupþing Bank executives Hreiðar Már Sigurðsson, Sigurður Einarsson, Ólafur Ólafsson and Magnús Guðmundsson, Morgunblaðið reports.

Hreiðar Már is charged for breach of trust in two instances and market abuse in two other instances, Sigurður for breach of trust on one occasion and market abuse in two and Magnús and Ólafur for being accomplice to both.

The most serious of these violations could result in imprisonment of up to six years.

At the case’s opening yesterday defendants demanded copies of all emails and telephone recordings in this case.

Prosecutor Björn Þorvaldsson rejected the demand but agreed that the defendants and their attorneys be given access to the evidence in the facilities of the Special Prosecutor’s Office, that is, their own emails and telephone conversations.

iceland