Icelandic tax evader Lúther Ólason held over biggest cocaine smuggling case

Lúther Ólason is among nine detainees in Iceland's largest cocaine case, involving roughly 100 kg of cocaine imported by sea from Brazil aboard the vessel Koznitaz to Straumsvík. The group includes three Icelandic citizens and six foreign nationals.

Ólason, previously convicted of serious tax offences, served a twelve‑month suspended sentence and was ordered to pay a fine of 55 million ISK, later reduced to 51 million ISK by the Supreme Court, which also rejected his request for a tax‑evasion appeal. As former managing director of the bankrupt company Stapafell ehf., he is accused of filing false tax returns for 2017‑2019 and transferring funds to accounts controlled by associates.