Charles Polidano has been released on police bail after being taken in for questioning over suspected money laundering and corruption on Friday. 

The construction tycoon, known as Iċ-Ċaqnu, was arrested at his home and taken in for questioning at the police’s Financial Crime Investigation Department. 

His son Gordon was also arrested. Both have been released on police bail.

Times of Malta is informed Polidano is suspected of having corrupted a senior official at a large entity through the sale of a property.  

His company however denied any wrongdoing.

Polidano Bros told Times of Malta it was assisting the authorities to verify payments made to the company in a transaction in 2014 that involved a public deed.

"The group is confident the authorities will be satisfied once these verifications have taken place. The group will continue to cooperate fully with the authorities," it said on Saturday.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.