measures he relied on to prevent them from doing so. 2000s: Iceland, and the financial crisis After leaving Russia, Björgólfur Thor started investing in several Icelandic firms in 2002, while continuing his international investments. By 2006, he was a celebrity for his business success, with an eight-page-long profile in the Sunday supplement of the Icelandic newspaper Morgunblaðið written about him. Late in 2002, Björgólfur Thor and Björgólfur Guðmundsson's holding company Samson ehf. gained a 45% controlling share of Landsbanki, Iceland's second largest bank, for about ISK12m in a controversial privatization. The board was announced in February 2003, with the chairman being Björgólfur Thor's father. Björgólfur Thor also became the main owner and chairman of the Straumur Investment Bank. Icelandic Financial Crisis Two of Björgólfur Thor’s companies, the banks Landsbanki and Straumur, went bankrupt following the 2008–11 Icelandic financial crisis and the government of Iceland assumed responsibility for them. On October 6th Landsbanki was put into receivership and liquidation, and on March 9th Straumur was nationalised by the Financial Supervisory Authority of Iceland (FME). Following the crash, Björgólfur Thor had €650m of personal guarantees. Rather than declare bankruptcy, he instead took two years to negotiate and restructure the debt with his creditors, most notably Deutsche Bank. Björgólfur Thor was heavily criticized for his actions leading to the crisis. Two days after the publication of the Icelandic government report on the financial crisis on 12 April 2010, Björgólfur Thor Björgólfsson issued a public apology in the Icelandic newspaper, Fréttablaðið, for his role in the crisis:I the undersigned, Björgólfur Thor, request forgiveness from all Icelanders for my role in the asset- and debt-bubble that led to the collapse of the Icelandic banking system. I request your forgiveness for my complacency towards the danger signs which arose. I request forgiveness for having not succeeded in following my instincts when I realised the danger. I request your forgiveness.He defended his reputation by disputing government and journalistic criticisms of his role in the 2008 financial crisis on his website, through letters to newspapers, and through legal action. He has claimed that he urged the government of Iceland not to take over the banks and that he did his utmost to prevent Icelanders and the state of Iceland from having to assume responsibility. He also has asserted that as a large shareholder in a bank, one does not have as much influence as many believe and that