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February 12, 2012

Four bankers arrested in UK tax inquiry



LONDON (AP) — British tax authorities say three 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 Sunday that the four bankers were arrested at their homes on Wednesday. None of those arrested have been named.

Authorities said the inquiry was in connection "with their own financial affairs" and unrelated to the bank's work.

The British government owns 82 percent of the Edinburgh, Scotland–based bank. It was rescued during the credit crisis of 2008 with 45 billion pounds ($72 billion) of taxpayers' money.

Last month the bank's chief executive Stephen Hetster turned down his annual million–pound ($1.6 million) bonus under intense political pressure.



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