Santander bank chief facing tax investigation

Spain’s most prestigious banker and 11 of his relatives are being investigated over possible income tax fraud.

The Madrid National Court said it had agreed to a petition to probe Banco Santander chairman Emilio Botin, his five children, Botin’s brother Jaime and the brother’s five children.

The court said in a ruling the probe focuses on income tax returns and other tax documents filed in the period running from 2005 to 2009.

Judge Fernando Andreu said he agreed to the probe at the request of Spanish anti-corruption prosecutors.

Banco Santander is Spain’s largest bank and the eurozone’s largest by market capitalisation.