April 19 2018
Spain’s High Court on Thursday placed Caixabank under formal investigation over allegations that the Spanish bank was involved in laundering almost 100 million euros ($123.80 million) for alleged Chinese criminals.
The court said Caixabank employees at ten branches in Madrid helped suspected Chinese criminals transfer 99 million euros ($122.48 million) to China and Hong Kong between 2013 and 2015 partly via corresponding banking agreements with ICBC.