Icelandic fisheries giant Samherji has been cleared of tax evasion and money laundering.

Criminal charges against the company and employees have been dropped and the case has been concluded in a settlement between Iceland's director of tax investigations and Samherji, according to a company press release.

The investigation covered accounting and tax returns for the group between 2010 and 2018.

"Three years ago, very serious accusations were made against us regarding tax evasion and money laundering," Samherji CEO Thorsteinn Mar Baldvinsson said.