Financial Times FT.com

Bankers among 20 arrested in Brazil

By Jonathan Wheatley in São Paulo

Published: November 7 2007 02:00 | Last updated: November 7 2007 02:00

Brazilian police have arrested 20 people including an employee of UBS, the Swiss bank, on suspicion of crimes including money- laundering, tax evasion and illegal transfer of money overseas.

The operation provides further evidence of the willingness of Brazil's police to tackle white collar crime, often with the co-operation of overseas forces.

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