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Retail boss found guilty
THE boss of failed retail group Baugur, one-time king of the British high street, was found guilty of tax evasion yesterday.
Jon Asgeir Johannesson, whose investment company owned stakes in a string of British high-street retailers including Hamley’s, Iceland and House of Fraser, was handed a suspended one-year prison sentence and a fined of 62m Icelandic crowns (£311,000).
The court found Johannesson had deliberately filed erroneous tax returns on earnings.