The current prime minister of Iceland sold almost all his remaining assets in a major Icelandic bank’s investment fund on the day the government seized control of the country’s collapsing financial sector at the peak of the 2008 crash. Asked whether he had personally sold assets from the fund just before the bank’s collapse, Benediktsson said last year he had “some assets at one point” but “nothing that mattered”. Benediktsson told the Guardian he had sold “most of my units but not all” in the fund, but did not give figures. It could have been clear to informed investors by late September that Iceland’s banks were in serious trouble. “I sold my shares and equities, resigned all my board positions, and focused on my political career,” he said.

Source: The Guardian October 06, 2017 09:03 UTC