2013-03-20 — guardian.co.uk
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The criminal case is the largest in a series of fraud prosecutions that have been brought to court in Iceland in recent years, and may be one of the largest alleged market manipulation conspiracies ever seen in Europe.
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A letter from his lawyers, leaked to a newspaper two years ago, said the bank had loaned [British Retail Tycoon Kevin] Stanford about £130m for purchases of his Kaupthing shares. It claimed this was part of a pattern of "activities with the express purpose of artificially maintaining its share price".
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