Logos legal firm raided by Icelandic government officials

Bad news for the law firm Logos. This is not the first time Logos ends up on this blogsite. Here is another story about the company and Baugur Group.

In short, the story goes like this:

The police financial fraud department raided the office of Logos yesterday at the same time as two houses belonging to Hannes Smarason and his wife where raided.

sheikh-mohammed-qatarThe Logos raid is connected to the Al Thani purchase of Kaupthing and is a part of an investigation to see if market manipulation and fake deals where made. Al Thani is connected to the massive arms deal that shook the British government a few years ago.See more about that case.  The Economist article, the BBC article and The Guardian BEA files.

Gunnar Sturluson, the managing partner of Logos is Hannes Smarason’s good friend and business partner. He is also the son of Sturla Bodvarson the Independence party’s former parliament member and the speaker of the house.

Gðmundur Oddsson another Logos lawyer was board member of Q Iceland Finance, a company owned by the Qatar sheik Al Thani, a company believed to have been in some very shady deals.  Guðmundur Oddsson made the news a few months ago when two foreign investors Steve Cosser and Everhard Vissers attmepted to purchase the Morgunblaðið newspaper. A newspaper then on the brink of bankruptcy, and the two investors believed to have been frontmen for Icelandic fallen business heroes. Baugur did buy most of the media in Iceland, and many believe this was just another attempt. Guðmundur Oddsson also worked for Björgólfur jr and sr.hannes

It´s bad for Logos, no doubt about that. But in proper Icelandic fashion Logos and the two men in particular will probably be even more popular, get better jobs and more money as a result, instead of being shunned like would happen in the civilized world.

About Hannes Smarason….He is believed to be involved in so much illegal, immoral and basically “bad shit” that it simply takes to long to list here. Click here to see some articles about him on this site.

The reason for the raid is massive tax fraud and illegal loans to Hannes Smarason and companies related to him. This is all linked back to FL Group, Baugur and the ill fated Danish airline company Sterling.

The main concern people have is that this is far to little and far to late. 8 months to shred and delete evidence is a good time. And why have those who have the status of a suspect not been arrested?

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