Head of Iceland bank lends to friends, moves to Luxembourg

The head of a main Icelandic bank skipped town to Luxembourg after helping to create billions, yes billions, of new fiat money – via fractional reserve fraud – and lending the new fiat money to friends and colleagues.

Kaupthing lent 1.5 trillion kronur ($12 billion) in transactions that were “if not illegal, completely unethical,” said the Prime Minister on Aug. 4, citing the leaked bank documents. The loans were granted to 10 “interlinked parties” and provided “without any guarantees or covenants,” she said.

My only hope is that exile provides a type of punishment all people involved in defrauding Icelandic citizens and bank depositors.

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