Five bankers arrested in UK tax inquiry

Reported by AAP
Monday, February 13, 2012

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British tax authorities say four current and one former member of staff at the Royal Bank of Scotland have been arrested in an investigation into alleged tax fraud.

Her Majesty's Revenue and Customs said on Sunday the five suspects were arrested at their homes in London and southern England on Wednesday. None of those arrested has been identified.

Authorities said the inquiry was in connection with the personal financial affairs of the suspects and unrelated to the bank's work.

The British government owns 82 per cent of the Edinburgh-based bank. It was rescued during the credit crisis of 2008 with STG45 billion ($A66 billion) of taxpayers' money.

Last month the bank's chief executive Stephen Hester turned down his million-pound annual bonus under intense political pressure.

22/05/2012 00:11Sydney, Australia. 22 May,2012
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