Spain’s high court has dropped an investigation into possible tax evasion by the family of Emilio Botín, chairman of Banco Santander,
the
Financial Times
reported.
The court said a voluntary 2010 settlement of 200 million euros by Botín, his brother Jaime and ten of their children was sufficient, according to the report.
The investigation had also named Ana Patricia Botín, daughter of Emilio Botín and head of the bank’s U.K. operations.
The investigation was prompted by Spanish authorities’ discovery of a Swiss bank account set up by Botín’s father in 1937, the article said. (Source:
Financial Times,
May 23, 2012.)
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