Belgian prosecutors have said the head of UBS Belgium has been detained for questioning in relation to an investigation into alleged tax fraud by the Swiss bank.

The head of UBS Belgium, detained for questioning in relation to an investigation for alleged tax fraud, has been released.

Marcel Brühwiler was free to go after the interrogation was over yesterday night, WealthBriefing was told by a spokesperson for UBS.

The alleged fraud amounted to several billion euros, prosecutors told a press conference on the matter earlier this week, Reuters had reported. Brussels prosecutors said earlier this month that they had launched an investigation into UBS Belgium for suspected money laundering and organised crime.

“UBS conducts its business in full compliance with applicable laws and regulations. UBS does not tolerate any activities intended to help its clients circumvent their tax obligations.UBS is fully collaborating with the Belgium authorities,” the bank said in an emailed statement to WealthBriefing. It provided no further comment on the specifics of the Reuters report.