Sunday, February 12, 2012

RBS staff are held in dawn raids over firm's tax scheme following weeks of undercover surveillance

Sixteen City workers, including several Royal Bank of Scotland employees, have been arrested in a series of dawn raids as part of a probe into alleged tax offences involving millions of pounds.

The operation followed weeks of undercover surveillance and is understood to centre on claims that the highly paid staff failed to pay tax after investing in a film financing scheme.

The financiers – including four current and one former employee of Government-backed RBS – were woken at 6am by criminal investigators from HM Revenue & Customs.

Dressed in plain clothes and driving unmarked cars, the tax officials used their powers of arrest in the co-ordinated raids across London and the Home Counties on Wednesday. Read More