UK, Iceland Arrest 9 In Kaupthing Collapse Probe

Law360, New York (March 9, 2011, 6:32 PM EST) -- British and Icelandic authorities made nine arrests Wednesday as part of an ongoing investigation into the 2008 collapse of Iceland’s largest bank, Kaupthing Bank HF.

The U.K.’s Serious Fraud Office and the City of London Police searched two businesses and eight residential properties and arrested seven men aged between 42 and 54 in London, according to a statement from the SFO.

Two more men, aged 42 and 43, were arrested in Reykjavik, Iceland, by the Icelandic Special Prosecutor’s Office, the SFO said.

Among those arrested were...
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