Spanish police have arrested former top banker Mario Conde, who has already served time for embezzlement.

A National Court statement said Conde, 67, his daughter and six others were arrested Monday on suspicion of money laundering and tax fraud.

Conde, a flamboyant entrepreneur in the 1980s, was chairman of Banco Espanol de Credito, or Banesto, when it was taken over in 1993 after an audit revealed a shortfall of 3.6 billion euros.

Conde was sentenced to 20 years in jail in 2002 for embezzlement and fraud but was released on parole in 2005.

The court said Monday that Conde is believed to have been secretly bringing back into Spain money he had embezzled from the bank.