Spanish Judge Orders Jail for Three Suspects in ICBC Probeby
Three suspects arrested in a raid of Industrial & Commercial Bank of China Ltd.’s offices in Madrid were ordered by a judge to be remanded in custody after questioning, according to a court statement.
Three other people will also be held unless they put up 100,000 euros ($113,300) in bail, the court said in a statement sent by e-mail Saturday. The questioning of the suspects accused of one or more economic crimes began at 1:30 p.m. at the court in Parla, near Madrid, Friday and concluded at 3.15 a.m. Saturday, according to the court statement.
Police raided ICBC’s offices in Madrid on Feb. 17 in connection with an investigation into the suspected laundering of at least 40 million euros, the European Union’s law enforcement agency Europol said in a statement on its website. The raid was part of a wider investigation conducted last year into the activities of Chinese-organized crime groups in Spain, Europol said.
The Chinese embassy in Madrid said in a statement on its website that the country’s government always demands that companies abide by its laws and those of any other nation where they do business. The branch used the latest system provided by the Spanish authorities to strictly control capital movements, the embassy said.