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Report: Former Banesto chairman arrested

Spanish law enforcement authoritiesarrested former Banco Español deCrédito SA Chairman Mario Conde on April 11 for suspected moneylaundering, El Mundo reported thesame day.

Conde is suspected of bringing to Spainfrom Switzerland cash that he took from Banesto during his time at the bank'shelm, the paper noted. He is also under investigation for punishable insolvencyand organized crime, among other charges.

Authorities also arrested six otherindividuals, among them Conde's children Mario and Alejandra Conde Arroyo.

The removed Conde fromBanesto's helm after problems at the bank emerged in 1993 and later launched anauction for the bank. BancoSantander SA acquired Banesto in 1994, El Mundo noted.