No knowledge of attempts to establish a new Vélfag
The chairman of Vélfag denies having information about any attempts to create a new company after the funds were frozen, calling recent rumors nonsense.
Working towards establishing 'Vélfag 2.0' and computers with remote drawings
Key executives at Vélfag have been working to sustain operations in a new company by purchasing its equipment cheaply, while computers containing machine drawings have been removed from the company's premises, leading to several staff and board members being arrested.
Chairman of Vélfag arrested in prosecutor's actions
Alfreð Tulinius, the chairman of Vélfag, was arrested during a police operation in connection with the company's alleged ties to the Russian shadow fleet.