Bankers from the Royal Bank of Scotland (RBS) have been arrested in a tax fraud investigation.
Four current employees and one former staff member from the Edinburgh-based bank, as well as workers from two other banks, were arrested as part of an ongoing investigation into an alleged tax fraud. HM Revenue and Customs (HMRC) confirmed that the allegations related to the financial affairs of the individuals, rather than the activity of the bank as a whole.
The arrests are the culmination of a three-year investigation by HMRC into those suspected of evading tax by using a film finance loophole. An HMRC spokeswoman said: "As a result of an ongoing HMRC investigation into tax-related criminal offences, HMRC has arrested a number of people, some of whom work for UK banks. This investigation relates to the actions of the people arrested in relation to their own financial affairs, and is not connected to the business activities of the banks."
The suspects were arrested on Wednesday (8 February) at their homes.