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Member of Banco de Santa Cruz's supervisory committee arrested

Banco de Santa Cruz SA on July 24 said Victor Alejandro Manzanares, a trustee and member of the bank's supervisory committee, was arrested on July 17 for charges he is facing in the Argentine province of Santa Cruz for a case tied to the Kirchner family.

Deputy member Romina Gaitán will replace Manzanares while he is under criminal investigation, the bank said.

Manzanares, who has been dubbed in the Argentine media as the "accountant of the Kirchner family," remains under detention in connection with the so-called Los Sauces case.

In April, Federal Judge Claudio Bonadio indicted former President Cristina Fernández de Kirchner along with her children and business associates on allegations of money laundering and kickback schemes based around a real estate company named Los Sauces in Santa Cruz province.

As investigators work on the case, Fernández de Kirchner plans to run for election as a senator for Buenos Aires province in the upcoming mid-term elections in Argentina.