‘Tax authorities have arrested a number of investment bankers at Royal Bank of Scotland and other banks in an inquiry into alleged fraud. Investigators arrested four current and one former RBS employee at their homes, as well as several bankers at two other banks, on allegations that they used investments in film productions to evade taxes.
‘HM Revenue & Customs, which is conducting the investigation, on Sunday confirmed the raids, which happened on Wednesday, without naming the banks involved. “This investigation relates to the actions of the people arrested in relation to their own financial affairs and is not connected to the business activities of the banks,” the tax authority stressed.
‘RBS said: “We will co-operate with the authority in any way that can be helpful to them.”’
‘Tax authorities have arrested a number of investment bankers at Royal Bank of Scotland and other banks in an inquiry into alleged fraud. Investigators arrested four current and one former RBS employee at their homes, as well as several bankers at two other banks, on allegations that they used investments in film productions to evade taxes.
‘HM Revenue & Customs, which is conducting the investigation, on Sunday confirmed the raids, which happened on Wednesday, without naming the banks involved. “This investigation relates to the actions of the people arrested in relation to their own financial affairs and is not connected to the business activities of the banks,” the tax authority stressed.
‘RBS said: “We will co-operate with the authority in any way that can be helpful to them.”’
