Details of loans granted to a company owned by retail entrepreneur Kevin Stanford by collapsed Icelandic bank Kaupthing have been passed to criminal investigators in Iceland.
The allegations centre on concerns about potential market manipulation involving Kaupthing derivative transactions, The Guardian newspaper reported.
Stanford was one of Kaupthing’s biggest customers, with borrowings of €519m (£445.4m) as at September last year. He was also the fourth largest investor in Kaupthing.
Stanford’s retail holdings are understood to have been taken back by the bank.