This is Money- Leading Icelandic bank Kaupthing has taken the extraordinary step of accusing four London hedge funds of illegally trying to drive it towards bankruptcy for their own profit.
In what looks likely to lead to a massive legal showdown in financial markets, the bank, which has attracted billions from UK savers to its Kaupthing Edge accounts, claimed the hedge funds deliberately spread false rumours about financial difficulties at Icelandic banks to make profits on complex financial investments.
Kaupthing chairman Sigurdur Einarsson told the Reykjavik newspaper Frettabladid: ‘It looks like four hedge funds have mainly led this run.’
