Faroese court upholds 18-month suspended sentence for embezzlement
Friday 19th June 2026 on 10:30 in
Faroe Islands
The Faroese Supreme Court has upheld an 18-month suspended prison sentence against Finn Jakobsen, the former CEO of Magn, for transferring funds from the Faroese political party Flatnahaga to a company in Dubai.
Jakobsen was convicted in October 2025 of six unauthorized transfers totaling 3.4 million Danish kroner (DKK) between 2021 and 2023. The amounts ranged from DKK 160,000 to DKK 1.8 million. The Supreme Court rejected his appeal, affirming the original ruling from the Court of the Faroe Islands.
Christian Andreasen, Jakobsen’s defense attorney, represented him during the proceedings. A second individual was also convicted in connection with the case, and their sentence was likewise upheld.