POLICE CRACK BANK FRAUD RING

A HIGH-ranking Bank of Athens official and two other people were arrested in Johannesburg on Wednesday for allegedly defrauding South African banks of millions of rands — and possibly billions — SABC television news reported. The arrests come after more than two years of intensive investigations into white collar crime by a special team of the South African Police Services fraud syndicate unit in KwaZulu-Natal. The official is alleged to be part of a syndicate that had stolen millions of rands from commercial banks through cheque fraud.