Couple accused of using 46.5 million krónur for personal gain

A couple in their 60s have been charged with embezzlement, money laundering and fraudulent insolvency over the sale of four vehicles, mbl.is reports. Prosecutors allege that payments from buyers in Iceland were not passed on to the Polish companies that owned the vehicles, but were instead used by the couple.

The vehicles were four Mercedes-Benz Sprinter vans. In 2018, a company run by the couple agreed to sell them in Iceland on behalf of three Polish companies. After receiving the buyers’ payments into the company’s account, the couple allegedly transferred the money to their own accounts or used it for the company’s general operations.

The amount was 292,000 euros, equivalent to 46.5 million krónur at the time. A second company owned by the couple is also charged with money laundering over the alleged transfer of part of the proceeds into that company.

The couple and the second company are also charged with fraudulent insolvency. Prosecutors allege that a security bond issued by the company, for 150 million krónur and without payment in return, was registered against the couple’s home. The company is listed as the property’s owner. The bond secured a debt owed by a third company owned by the couple, for which the husband had provided a personal guarantee.

The indictment says the bond left the property overencumbered and that an attachment attempt was unsuccessful in 2021. Prosecutors allege the arrangement reduced creditors’ ability to recover debts from the company’s assets and created a substantial risk of financial loss.

The case was formally brought before the Reykjanes District Court earlier this year. The main hearing is due to begin next month.