Iceland: Money Laundering Charges Against Panama Papers City Council Member

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Former Reykjavík City Council member for the Independence Party, Júlíus Vífill Ingvarsson, is charged with money laundering by keeping amounts of ISK 131-146 million (USD 1.2-1.4 million, EUR 1-1.2 million) in a foreign bank account, an amount that was partly illegally obtained, and to have transferred the money to the bank account of a trust in Switzerland.

This is revealed in charges against him by the Office of the District Prosecutor, a document obtained by

Júlíus Vífill resigned as city council member in 2016 in the wake of the Panama Papers, (millions of leaked documents from a Panama law firm, detailing information about off-shore companies and accounts), which revealed that he had established and off-shore company in Panama.

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