Brazilian police say they are asking prosecutors to bring tax fraud charges against the CEO of one of the country's private banks, Bradesco.

The Attorney General's Office tells The Associated Press that Tuesday's request names Luiz Carlos Trabuco and nine other people.

There is no deadline for prosecutors to decide whether to charge Trabuco.

The newspaper Folha de S.Paulo says the accusations against him involve corruption and money laundering.

Bradesco did not comment. The bank's shares fell nearly 8 percent at about 4 p.m. local time at the Sao Paulo stock exchange.