(Reuters) - Iceland's special prosecutor arrested the former chief executive of Glitnir Bank on Wednesday and questioned nearly two dozen people related to the collapse of the bank in 2008.

Glitnir Bank was the first of Iceland's top three commercial banks to collapse three years ago, imploding under the weight of huge debts racked up during years of aggressive expansion.

Special prosecutor Olafur Hauksson said his office had made several arrests on Wednesday -- the first for activities related to Glitnir. He told local media that former CEO Larus Welding would be held in custody for up to one week.

"Welding is being held in the interest of the investigation in order to prevent him for influencing other suspects or removing evidence that we're after," he was quoted as saying by Morgunbladid.

Hauksson said he had initiated nine new investigations, made several arrests and questioned nearly two dozen people related to the fall of Glitnir.

Inquiries are being made into the purchase of Glitnir's shares, as well as into loans provided to a number of firms to purchase Glitnir shares. It also investigated a 15 billion Icelandic crown ($126 million) guarantee provided by Glitnir in connection with a share offering in FL Group.

Originally posted by groingrinder
reply to post by PlanetXisHERE

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Petition them all. With napalm.

Originally posted by Kali74
reply to post by xuenchen

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Occupiers largest and most vocal protests are against banks. We seek to educate how and why what Big Banks have done is illegal or should be illegal, we have demanded criminal investigations, waged campaigns to get people to move their money to Credit Unions. Good lord please stop this obfuscation already.

edit on 21-6-2012 by Kali74 because: (no reason given)

Originally posted by SimonPeter
reply to post by nightbringr

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You evidently are at a loss ! If you research the Rothschilds from the time they were the Bauer 's you would be apprised of the , no , your situation along with the rest of us . Research < The Rothschilds Timelines> There are a lot of people who know about the dreams of Mayer Amschel Bauer of world domination but don't know that the Bible tells of it around 2,000 years earlier as well as the Mark of the Beast that could only be implemented throughout the world with the advent of the world wide web . This 666 Mark of the Beast money will not be printed and can only be used with a authorization from the source of that money . The Rothschilds are Ashkenazi Jews and are as such chosen as Jews by God to bring us to the Great Tribulation even as Judas was chosen by Jesus to betray him . That honor as the chosen people may be viewed differently when you consider the above . Believe or not it is written as prophecy in Revelations chapters 16 and 17 .

Originally posted by SimonPeter
reply to post by nightbringr

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You evidently are at a loss ! If you research the Rothschilds from the time they were the Bauer 's you would be apprised of the , no , your situation along with the rest of us . Research < The Rothschilds Timelines> There are a lot of people who know about the dreams of Mayer Amschel Bauer of world domination but don't know that the Bible tells of it around 2,000 years earlier as well as the Mark of the Beast that could only be implemented throughout the world with the advent of the world wide web . This 666 Mark of the Beast money will not be printed and can only be used with a authorization from the source of that money . The Rothschilds are Ashkenazi Jews and are as such chosen as Jews by God to bring us to the Great Tribulation even as Judas was chosen by Jesus to betray him . That honor as the chosen people may be viewed differently when you consider the above . Believe or not it is written as prophecy in Revelations chapters 16 and 17 .