New Delhi, June 16 -- The former president of the American Chamber of Commerce in Myanmar was detained upon his return to Yangon, police said Monday, an arrest that came after the organization said it was looking into suspicious financial transactions by ex-board members.

Adam Castillo, a founder and owner of the security risk management firm AGS Myanmar, was detained Thursday at Yangon International Airport, said the spokesperson for Myanmar's Home Affairs Ministry, acting police Brig. Gen. Soe Lin Aung.

"He was arrested because there was a crime and a lawsuit," he said, confirming reports but not elaborating further.

Castillo's company told The Associated Press it was an "ongoing matter" and declined to comment further. Castillo did ...