Metropolitan police yesterday held a press conference announcing the historic drug bankruptcy. The actual selling price of the foreclosure amounts to 2.4 billion ISK ($ 18.5 million / € 17.4 million).

ISK $ 1.7 billion worth of drugs confiscated

At 2:00 pm yesterday, the Metropolitan Police held a press conference announcing the historic drug bankruptcy as a result of two extensive investigations. The actual selling price of drugs seized in the two busts is estimated at 2.4 billion ISK ($ 18.5 million / € 17.4 million). Ten people were arrested in connection with each investigation.

Metropolitan police have been monitoring individuals suspected of producing, distributing, and selling illegal drugs over the past few months, according to Deputy Commissioner Margeir Sveinsson, who shared the results of a previous investigation. The individual in question was also suspected of money laundering.

On May 20, 14 attacks were carried out on commercial buildings, homes and farms. Police then searched six other locations during the investigation, arresting 10 people, one of whom remained in custody.

“We believe this is the largest domestic seizure associated with a single study,” Margeir said. Police seized 200 cannabis plants, over 30 kg of marijuana, 20 kg of hashish, and 7 kg of MDA. Police can also seize MDA bases and produce more than 200,000 ecstasy pills from them. 2 kg of cocaine; 1 kg of amphetamine; Also, an amphetamine base of more than 40 liters may be sufficient to produce 170 kg of amphetamine for street sales, based on its potency. Finally, according to Margeir, police confiscated 2 kg of stimulants, a “very powerful drug.”

Margeir estimated the actual selling price of these substances to be 1.7 billion ISK ($ 13.1 million / € 12.3 million). He also observed that profits from sales were generally washed through legitimate businesses. Investigation is still underway.

700 million worth of amphetamines

After Margeir’s conclusion, Chief Criminal Foreman Grímur Grímsson discussed another investigation into organized crime that has been going on for the past year and a half. The investigation was initiated with information from Europol that assumed encrypted messages. At the beginning of 2020, the imported material was used to produce 117 kg of amphetamine, and the value of the street was 700 million ($ 5.4 million / € 5.1 million). Ten people were arrested and five were detained during the investigation, three of whom remain in custody. According to, all suspects in custody are Icelandic men.

Over 200 judicial claims

Hulda Elsa Björgvinsdóttir, head of prosecution for the Metropolitan Police Department, said legal proceedings based on the two investigations began in September 2020. Since then, more legal complaints, or more than 200, have been filed.

In addition to money laundering, allegations include organized crime related to the manufacture, import, distribution and sale of illegal drugs. According to Hulda, the investigation has taken a lot of time and effort, and local governments are in constant contact with overseas police authorities.

Hulda also pointed out the breadth of crime and observed that it was worth considering the impact on the lives of affected individuals. She also questioned the validity of the law, which provides that suspects are only detained for 12 weeks unless they are prosecuted. In connection with such an extensive investigation, “short time”, Fulda said.

One of the “greatest threats” to society

Police chief Halla Bergþóra Björnsdóttir also addressed the media at a press conference. She said that illegal drug imports and manufacturing are the number one aspect of organized crime and “one of the more serious threats” to modern Icelandic society.

Margeir added that police conducted an estimated 10 ongoing investigations into Icelandic organized crime.

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