Five bankers at the state-owned Royal Bank of Scotland (RBS) have been arrested over the accusation of tax fraud as part of an ongoing investigation into tax-related criminal offences.
Four current employees and one former employee at the 83% taxpayer-funded RBS have been arrested as Britain’s HM Revenue & Customs (HMRC) has launched an investigation into an alleged tax fraud.
The bankers were arrested at their homes across London and the Home Counties.
HMRC has claimed that the accusations are not related to the overall activity of the state-funded lender but to the financial affairs of the individual bankers.
Read More: Five UK bankers arrested over tax fraud