ousted espirito santo bank head arrested
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Ousted Espirito Santo bank head arrested

Arab Today, arab today

Arab Today, arab 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.

arabstoday
arabstoday

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

 



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 09:13 2011 Thursday ,23 June

Hani Shaker grieves the death of his daughter

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits

GMT 07:23 2017 Wednesday ,01 March

China shuts down $7.3bn illegal forex operation

GMT 09:36 2017 Saturday ,22 April

US judge orders VW to pay $2.8 bln criminal penalty

GMT 05:02 2017 Wednesday ,01 November

IMF tells Gulf states to speed up

GMT 12:26 2017 Tuesday ,28 November

China club taps Ajax to build 'best football academy'

GMT 08:35 2018 Thursday ,11 January

Defying Israel with the help of Martin Luther King

GMT 03:11 2017 Monday ,27 March

Man tries to drive into crowd in Belgium

GMT 01:43 2017 Friday ,08 September

Commander of Lesotho defense force shot dead

GMT 18:55 2017 Friday ,08 December

US decision suspended for six months
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab 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 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday