ousted espirito santo bank head arrested
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Ousted Espirito Santo bank head arrested

Egypt Today, egypt today

Egypt Today, egypt today Ousted Espirito Santo bank head arrested

Espirito Santo Bank
Lisbon - AFP

Ricardo Salgado, recently forced to quit as head of stricken Portuguese bank Banco Espirito Santo, was arrested on Thursday in connection with money laundering, the chief prosecutor's office told AFP.
Salgado was arrested early in the day at his home near Lisbon, a day after several premises of the Espirito Santo group were searched on Wednesday.
The 70-year-old was taken before a magistrate working on the so-called Monte Branco, or Mont Blanc, probe into a vast money-laundering operation in Portugal, the office said.
Launched in 2011, the investigation is targeting tax evasion and money laundering relating to private wealth managers in Switzerland and clients in Portugal.
Salgado gave evidence voluntarily in December 2012 to investigators, who then said he was not a suspect.
He was forced out as head of BES after 23 years on June 20 amid allegations of accounting irregularities at one of the bank's Luxembourg-based holding companies.
BE Sis a subsidiary of a cascade of three main holding companies.
The first these, Espirito Santo International (ESI), was placed under protection from creditors and put under insolvency administration on Tuesday after defaulting on its debts.
The next in the line of holdings, Rioforte, filed for the same protection process on Tuesday.
BES itself is the biggest private bank in Portugal, where it has interests in many sectors of the economy.
BES shares have plunged in recent weeks, raising concerns about possible repercussions for the Portuguese banking system and the country's fragile economy.

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ousted espirito santo bank head arrested ousted espirito santo bank head arrested



GMT 09:43 2019 Monday ,19 August

Live a calm atmosphere in your career

GMT 02:02 2017 Wednesday ,03 May

Solar energy plans discussed

GMT 13:53 2018 Tuesday ,04 September

Bahrain-Kuwait ties praised

GMT 13:04 2016 Wednesday ,05 October

Boycott test for Asia's top film festival

GMT 05:02 2017 Saturday ,11 March

ECB: Core inflation still too low

GMT 08:51 2017 Sunday ,26 November

Amazon workers in Germany, Italy hold

GMT 15:55 2017 Tuesday ,25 April

Egypt sentences 20 to death over police killings

GMT 09:25 2017 Friday ,16 June

Trump's envoy Jason Greenblatt

GMT 08:53 2018 Sunday ,21 January

FedExpress steams on as Sharapova grinds

GMT 09:20 2018 Friday ,19 January

Police raid France's Lactalis

GMT 13:16 2018 Thursday ,11 January

Feminists and Weinstein accuser lash Deneuve
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday