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Iceland banker 'faces prosecutors'

The former chairman of Iceland's largest bank, which failed spectacularly in the early days of the world financial crisis, has returned to the island to face prosecutor questions, a local broadcaster said.

An arrest warrant was issued for Sigurdur Einarsson, who chaired Kaupthing when the bank imploded under the weight of its mammoth debts in the autumn of 2008.

Icelandic national broadcaster RUV said Einarsson arrived in Iceland and was picked up at the airport by his lawyer. He is expected to be questioned on Thursday.

Several of Einarsson's colleagues have already been arrested as prosecutors investigate suspected market manipulation and fraud in the run-up to the banking crash.

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