UK Fraud Office Nixes Probe Into Icelandic Bank Collapse

Law360, New York (October 15, 2012, 6:22 PM EDT) -- The U.K. Serious Fraud Office said Monday that it has brought an end to its investigation surrounding the collapse of Iceland's Kaupthing Bank HF, which had resulted in the arrests of two property tycoon brothers, after deciding that there is not enough evidence to justify the action.

The brief announcement by the agency brings an end to the probe, initially announced in December 2009, that sought to uncover suspected fraud allegedly committed within the U.K.'s jurisdiction in connection to the Icelandic bank before it collapsed in...
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