MADRID, June 16 (Reuters) - Four ex-employees and executives of the Madrid branch of the Industrial and Commercial Bank of China (ICBC) have agreed with Spanish prosecutors to prison terms of up to five months in a money-laundering case, the prosecutor’s office said on Tuesday.
The accused also agreed to pay a fine of 22.7 mln euros ($25.55 million) as part of the deal to settle the case, the prosecutor said.
In 2016, Spanish judicial authorities launched an investigation into the European management of ICBC as part of a probe into the alleged laundering of hundreds of millions of euros through the Chinese banking giant’s Madrid branch.
($1 = 0.8884 euros)
Reporting By Jesús Aguado, Emma Pinedo and Belen Carreno; editing by Andrei Khalip
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