Top UK businessmen among 9 arrested in bank probe

[grahamhgreen]

Source: AP

"LONDON – Police have arrested nine people, including two of Britain's wealthiest entrepreneurs, on suspicion of fraud in connection with the 2008 collapse of Iceland's Kaupthing bank during the global financial crisis.

Britain's Serious Fraud Office said seven men aged between 42 and 54 were held in raids on two businesses and eight homes in London. The properties were being searched and the suspects questioned at police stations in the city. Two men, aged 42 and 43, were arrested in the Icelandic capital, Reykjavik.

Entrepreneurs Robert and Vincent Tchenguiz confirmed they were among those arrested in London and said they were "cooperating fully" with authorities.

A police van was parked outside the office of the brothers' investment firm, Rotch Property, in the upmarket Mayfair area.

The Tchenguiz brothers amassed a large property portfolio and had investments in some of Britain's best-known retail brands, including grocer J. Sainsbury PLC and pub chain Mitchells & Butlers."

Read more: http://news.yahoo.com/s/ap/20110309/ap_on_bi_ge/eu_britain_iceland_financial_crisis

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And so it begins (I hope!)

[midnight]

1. I wonder if they watched the Inside Job to get their leads?

[DJ13]

2. Dear S.E.C., buy a clue

signed,
The people of the US

[glinda]

3. Do you really think it will come this far?

[girl gone mad]

4. Considering that some of our top banking criminals..

count the President among their golf partners, I doubt it.

We have to fight this battle without the aid of our government.

[grahamhgreen]

6. One can hope that these criminals might be rounded up by other countries police forces!

[western mass]

5. If they were American, Obama would have their back

too bad for them.