Man arrested on suspicion of fraud and handling criminal proceeds

A 59-year-old British man resident in Spain was arrested on Tuesday afternoon by detectives from the Royal Gibraltar Police’s Economic Crime Unit on suspicion of fraud by abuse of position and concealing, transferring or removing the proceeds of criminal conduct.

The arrest followed an investigation launched after a report from a local business where the man had been employed until recently.

Police said the man was suspected of abusing his position within the company to carry out several unauthorised bank transfers between company and personal accounts.

The investigation remains ongoing.