Under Investigation. Part 2

2. The Kaupthing sale to Al Thani

Purchase of Q Iceland Finance ehf. On 5,01% share in Kaupthing bank in the end of September 2008. The company Q Iceland Finance ehf, a holding company owned by Shaik Mohamed Bin Khalifa Al-Thani of Qatar.  The shares where bought on September 22nd. 2008. 37,1 million (ISK) shares on the rate 690. The deal is estimated to be around 25 billion ISK.Kaupthing

Raids on several houses and offices where made, including the Logos legal firm one of the biggest in Iceland. The 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.

The deal is said to be a fake deal, made only to raise the stock prices and the value of Kaupthing, and there are doubts about who bought what and who got paid.

Special prosecutor Olafur Hauksson was not willing to reveal at that stage if Al-Thani had been questioned. Hauksson said that no raids on houses or other properties abroad have been done.

The investigation is linked to several other individuals as well.

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