CEO And Three Employees Of Icelandic Bank Jailed As Illegal Activity During Financial Crisis Catches Up With Them

An Icelandic court Thursday sentenced four former bosses of the country's Kaupthing Bank to between three and five years in prison for illegally trying to boost the firm's fortunes during the global financial crisis. Sentences were handed down to Magnus Gudmundsson, the former chief executive of the Luxembourg branch; Sigurdur Einarsson, former chairman of the board; Olafur Olafsson, one of the majority owners; and Hreidar Mar Sigurdsson, the former chief executive of the entire bank.