Kaupthing executive labelled fraud suspect

REYKJAVIK – The former chief executive of collapsed Icelandic bank Kaupthing has been named by prosecutors as a fraud suspect in an Icelandic market abuse case. Sigurdur Einarsson headed the bank until its failure and nationalisation on October 4 last year.

The fraud investigation relates to the mid-September 2008 purchase of $244 million in Kaupthing shares - a 5.01% stake - by Sheikh Mohammed Bin Khalifa al-Thani, a member of the Qatari royal family. Financing for the deal reportedly came from

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