The former head of the Icelandic bank Landsbanki has been sentenced to a 12-month jail term.<br /><br />Sigurjon Arnason was on trial for his role in the collapse of the financial sector in 2008.<br /><br />Two other of the banks executives received nine month sentences.<br /><br />The Landsbanki three were accused of manipulating the bank’s share price by lending cash to investors on condition they purchase stocks. <br /><br />The global financial crisis in 2008 froze credit markets and Iceland’s banks quickly collapsed, plunging the island’s economy into recession.
