Kaupthing’s loan book exposed and an injunction ordered against RÚV
by ALDA on AUGUST 1, 2009
Yesterday the website WikiLeaks* published TOP SECRET information about loans made by Kaupthing bank just before the Big Meltdown last October. The info is a 209-page inside document containing slides used at a meeting of the bank’s loans committee on September 25 last year.
Rumours had been circulating about large-scale money transfers from the bank during the days preceding the bank collapse last fall. The leaked document shows definitively that massive loans were made to a select few during that time, most notably the largest shareholders in the bank and associated parties.**
According to visir.is, loans made to the core investors of Kaupthing [the brothers Ágúst and Lýður Guðmundsson], and companies owned by them, amounted to some ISK 300 billion [USD 2.3 bn / EUR 1.6 bn].
Robert Tchenguiz, a member of the board of Exista [owned by the brothers] received loans of some ISK 330 billion.
Ólafur Ólafsson, he who once flew in Elton John to perform at his birthday bash [and who is associated with shipping company Samskip], received a loan of some ISK 140 billion.
Companies associated with the Baugur family received a loan amounting to some ISK 320 billion at the current rate of exchange.
