Quang Le's businesses collapse amid police investigation

Defense attorney Sveinn Andri Sveinsson has criticized the severity of police actions against businessman Quang Le, claiming the investigation has effectively destroyed his entire business operation before any formal charges were issued.

Le has been under investigation for several years regarding allegations of human trafficking, money laundering, forgery, and violations of foreign labor rights. His companies, including WOKON ehf. and EA17 ehf., were declared bankrupt in June 2024 following extensive police activity. Additionally, Le has lost real estate assets through forced sales, including the property known as Herkastali.

Sveinn Andri questioned whether the police treatment would have been as aggressive if the business owner were an ethnic Icelander. He also noted that initial suspicions regarding money laundering in the purchase of the Herkastali property were undermined by the fact that the acquisition was 90 percent financed by Landsbankinn.