Special prosecutor finally gets Bank information

The special prosecutor appointed to tackle the criminal element concerning the Icelandic financial collapse is expecting to finally get all the information on the old banks that went belly up, Kaupthing, Landsbanki and Glitnir, from the auditing companies. Many fear that the information have been tampered with or shredded to bits. Lets hope that is not the case.

The reason he did not get the information until now is the law on bank secrecy, part of that has been lifted by the parliament, when it set in place emergency laws. Now the prosecutor hopes he gets the information needed in order to actually do something.

According to the prosecutor, there have been several reports and tips sent to him that indicate serious criminal activities within the financial sector. Some of those cases are already under investigation, and some of them are quite large and serious cases of fraud, deception and similar criminal activities.

The large auditing companies, such as KPMG, Deloitte and other similar companies here did the reports for The Financial Supervisory Authority (FME). The serious matter is the secrecy. The banks and the FME do not have to hand over the information. Even though that the FME and the Central Bank and the special prosecutor should be working together in finding those who made this happen in the first place.

The logical conclusion is that both the Central Bank and the FME have something to hide. Nestor Media has contacts all over, and according to those contacts and in fact other official information from various experts, there have been some serious mistakes made by the Central Bank and the FME. Even some unbelievable lack of critical thinking and refusal to take actions when the truth was obvious.

This law is a blessing for Icelandic society we hope. Only the parliamentary research committee (a positive thing) have had access to the files. Others, until now, have been told that cannot view them because of bank secrecy.

The blogsphere is sceptical about this special prosecutor. He has negative political connections they claim. It remains to be seen what happens. But we at Nestor Media hope things will be dealt with properly and with full force.

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