Friday, February 19, 2016

Arrested in Madrid other manager of ICBC – Yahoo Finance Spain

The Civil Guard has arrested Friday in Madrid who was the first director of the branch in the Spanish capital of Chinese banking giant ICBC (HKSE: 1398-OL.HK – news), as part of an investigation into alleged money laundering, sources of research

this is the sixth arrest in this research, following the arrest of five other directors. last Wednesday, including the director and deputy director of the Madrid office.

the new manager is arrested the deputy director of the bank in Europe, but his arrest has nothing to do with his current functions, but with the that was the first director of the Madrid branch of ICBC when it opened in 2011.

the arrest comes on the same day have begun to testify before a judge Parla detained last Wednesday the framework of the operation ‘shadow’ (shadow).

The research seeks to clarify whether a Chinese organization of international freight traffic routes could use the bank to launder “funds whose origin is in the alleged commission of crimes of smuggling, against the Treasury and against workers’ rights, “according to the Civil Guard.

the operating ‘Shadow’ is the result of research carried out in the spring of last year when the Civil Guard dismantled an international network of Chinese goods traffic who avoided paying taxes.

the network allegedly mattered massively goods from China, declaring less of the real, which would be a crime of smuggling, without paying taxes on the sale of the material committing tax fraud.

the network allegedly entered the money obtained with this system in the bank that had sent to China, which would mean an alleged crime of money laundering.

one organization dismantled in that operation would be “laundered assets” through the Madrid branch of ICBC by “an upright, known so far, 40 million euros”, according to the Civil Guard.

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