As reported by thelocal, six officials of Chinese megabank ICBC have been placed in detention by Spanish authorities on suspicion of laundering tens of millions of euros, judicial sources said on Saturday.

They were detained overnight and while three of them can be freed if they post bail of €100,000 ($111,000) each, the others will remain in custody for the time being, the Madrid appeals court said.

The suspects were arrested on Wednesday at the bank's central Madrid branch as part of a probe into the suspected laundering of at least €40 million.

They were questioned from Friday afternoon through to early Saturday.

The Industrial and Commercial Bank of China is accused of allowing traders to move money earned through smuggling and tax fraud out of the country, to China, "in a way that appeared legal", Spanish police said in a statement.

bbabo.Net