Who is going to pay his 107 billion ISK overdraft

This man managed to get himself a 107 billion ISK overdraft at Kaupthing. 

I used to have an overdraft of 600.000 ISK for a couple of years until I paid it up. 

I wonder if Robert Tchenguiz will pay his overdraft or if I am going to have to do it for him?

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4 Responses to “Who is going to pay his 107 billion ISK overdraft”


  1. 1 Roy February 6, 2009 at 8:05 pm

    How about Sigurður Einarsson and Hreiðar Már Sigurðsson? They were the controlling financial geniuses of this house of cards they called a bank!

  2. 2 Jon February 6, 2009 at 8:27 pm

    You seem to have such a good practice in paying overdrafts (and the Iclandic public generally), that this shouldn’t be that hard for you. After all, it’d be unfair to ask Robert Tchenguiz to pay the overdraft, since he has never had to do such a thing. 😉

    Jon

  3. 3 Vilhjalm A. February 6, 2009 at 9:12 pm

    One amazing thing about the Icelandic bank swindle is how careless and casual the bankers were in covering up their tracks. Overdraft to a business “friend” in return for favors — that’s an obvious crime.

    Maybe they had so many small swindles going that they couldn’t cover them all up.
    Or maybe they just didn’t care — the Icelandic FSE wasn’t going to catch them.

    The size of the thefts is really astonishing too. In America, corporate theft is widespread, but people are careful about how they do it. CEOs usually only steal $5-10 million at a time, usually in the form of bonuses and stock options. Here, you have a $700-800 million theft, or double that at the old ISK exchange rate.

  4. 4 Jon February 6, 2009 at 9:41 pm

    Just goes to show how utterly incompetent these people are. They’re note even good thieves.


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