Iceland: Former Reykjavík city councilman under investigation for tax fraud, money laundering

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A former member of the Reykjavík City Council is under investigation for large-scale tax fraud and money laundering, the Icelandic National Broadcasting Service RÚV reports. Júlíus Vífill Ingvarsson, a former city councilman for the conservative Independence Party and one of the party’s leaders in the Capital, resigned last year following the revelations of the Panama Papers.

Yesterday the Supreme Court of Iceland ruled that Júlíus’ lawyer, Sigurður G. Guðjónsson, could not represent him in the case, as Sigurður is a key witness, as well as being suspected of having potentially conspired with Júlíus Vífill to help him evade paying taxes on money he had hidden in off-shore tax havens.

Both Júlíus and Sigurður deny the allegations, calling them absurd.

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