High-level meeting over ICBC arrests
Print Edition
A SENIOR Chinese government official met a representative of the Spanish Embassy in Beijing yesterday to express a “high level of concern” over a money laundering and tax fraud investigation into China’s ICBC in Madrid that has led to six arrests.
A foreign ministry statement said Deputy Foreign Minister Liu Xing told embassy official Jose Luis Garcia Galan that China hopes Spain will deal with the case in a lawful manner and guarantee the legal rights and interests of Chinese businesses and personnel in Spain.
It said Garcia Galan responded that Spain would conduct an impartial investigation, guarantee the rights of those concerned, and deal with the case “cautiously and appropriately” to avoid damage to cooperation between the sides.
China expressed similar concerns over the case on Wednesday after police raided the ICBC’s downtown Madrid office and arrested five executives. The individuals were brought before a court in Parla, near Madrid, yesterday.
Police, who also arrested a sixth ICBC executive yesterday, said the operation was a follow-up to one in 2015 that targeted gangs using the bank to launder some 40 million euros (US$45 million) from Chinese-run bargain stores in Spain.
The sixth detainee previously worked in ICBC’s Madrid offices but now works in the Luxembourg branch, police said. He was arrested in Madrid.
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