Water rights given to Canadian fraudster

Snæfellsbær town council made a big long term contract with the a company called Iceland Glacier Products, who want to open up a water bottle plant in the small town of Rif. The contract is an exclusive rights to use water from undern the Snaefellsjokull glacier for the next 95 years.

The company IGP is the focal point for a massive fraud case that the Canadian government is investigating. It goes from Canada to Iceland to the Cayman islands.

Here is a link to the Global Water Intelligence webstite about Otto Spork and his water rights adventures. Short and very interesting.

Another article about him and his hendge fund. Words like, Madoff, Ponzi Scheme and so on has got to raise questions.

The town council seen on the picture with Mr. Spork is refusing to give any information on the deal and say it is classfied. On the picture is also the President of Iceland Olafur R. Grimsson.Otto Spork and others

Ásbjörn Óttarsson,the council president and the leader of the Indepenence party in the north-western district was one the people who agreed to the deal, but he claims not to remember what the deal says. Town mayor refuses to comment.

From a PR point of view they should confess to what is going on and try to fix it, befor it is to late. Then again, politician here in Iceland have never been strong when it comes to PR and doing the right thing. The whole financial mess we are in is direct proof of that.

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