The owner of Icelandic group Sæmark has been forced to shutter the seafood trading firm and sell out his holdings in a second company amid tax fraud allegations.
Sigurður Gísli Björnsson sold his stake in Icelandic company Bacco Seaproducts on Friday and resigned from the board of Gadus after facing tax fraud allegations.
Bacco Seaproducts CEO Hjalti Halldórsson and Bjartmar Pétursson, who owned 50 percent of Bacco, bought out Björnsson and partner Magnús Guðmundsson, making them the sole owners of the company.
