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Iceland's special prosecutor speaks.

Iceland's special prosecutor Olafur Thor Hauksson, who's investigating suspicions of fraud in the banking sector, says cases will be brought 'within a year.'

The story of Iceland's banks is not just about poor lending practices and a banking sector which had hugely outgrown the country's actual size. Many Icelanders feel there must have been something else behind the huge collapse. Earlier this year, the prime minister appointed a special prosecutor to investigate suspicions about the faking of loans and the ramping up of bank share prices. Olafur Thor Hauksson is the man; he was courted for the job when no one else applied for it. His background is as a small-town police chief with no experience of high finance. Asked when cases may come to court, he tells Business Daily 'within a year'.

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18 minutes

Last on

Thu 12 Nov 2009 02:40GMT

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  • Wed 11 Nov 2009 08:32GMT
  • Wed 11 Nov 2009 19:40GMT
  • Thu 12 Nov 2009 02:40GMT

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