Tchenguiz Brothers Arrested in Iceland Bank Scam
March 9, 2011
In a long-awaited move, the Tchenguiz brothers, Robert and Vincent, have been arrested in connection with the Kaupthing investigation and the bankrupting of Iceland. The Serious Fraud Office has been investigating the collapse of the Icelandic bank since last year. I assume that the Serious Fraud Office has read my in-depth articles on the Tchenguiz/Israeli role in the Icelandic scam. The Tchenguiz financial scam is controlled by their father Victor - from Israel.
Robert and Vincent Tchenguiz are the frontmen of an Israeli-run scam.
IS THE PARTY OVER? - The Tchenguiz kids, Vincent, Lisa, and Robert are well known for living high on other people's money. As The Observer noted in 2003: "The [Iranian Jewish] community is also legendary when it comes to shopping and partying. One reason that Victor Tchenguiz was long supposed to be the brains behind Rotch was that his Ferrari-driving sons didn't seem to spend much time at their desks."
Kaupthing Bank was the biggest of three Icelandic banks that collapsed in 2008, owing creditors more than $50 billion. Before it collapsed, Kaupthing Bank’s profit had grown fifty-fold over five years as it took on more debt to expand abroad.
Kaupthing Bank had a large operation in Britain and helped finance many corporate takeovers for clients, including the Tchenguiz brothers. Robert Tchenguiz was one of Kaupthing’s biggest borrowers. He also sat on the board of Exista, an Icelandic holding company that was Kaupthing’s biggest shareholder.
The Guardian reports today:
Nine people, including property tycoons Robert and Vincent Tchenguiz, were arrested on Wednesday over the collapse of the Icelandic bank Kaupthing. More than 130 police swooped on two business properties and eight residential addresses in a series of dawn raids, arresting seven men aged between 42 to 54. They are now being interviewed at police stations in central London. Two further arrests were made in Reykjavik.