exhead of portugese bank bes put under house arrest
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Ex-head of Portugese bank BES put under house arrest

Arab Today, arab today

Arab Today, arab today Ex-head of Portugese bank BES put under house arrest

Ricardo Salgado, pictured (R)
Lisbon - AFP

The former head of Portugal's Banco Espirito Santo, Ricardo Salgado, was placed under house arrest after being questioned by a magistrate over his role in the bank's collapse, his lawyer said.

Francisco Proenca de Carvalho called the measure "disproportionate" in remarks to the press after the 12-hour questioning.

On Monday the former banker was questioned by the state prosecutor, who decided to send him for further questioning in front of an investigating magistrate.

The prosecutor referred in particular to suspicion of forgery, breach of trust, tax evasion or money laundering, in a statement released Friday.

Once one of Portugal's largest lenders, BES collapsed after reporting a record loss last year and its three holding companies declared themselves insolvent, facing allegations of accounting fraud.

The bank's woes threatened to drag down Portugal's economy, which had only gingerly emerged from a three-year bailout, prompting the government and the European Union to swiftly come to the rescue.

The good assets of the ailing bank were transferred into Novo Banco as part of a 4.9-billion-euro ($5.4 billion) bailout of BES, including 3.9 billion from the government.

For a year numerous enquiries have been opened by the Portuguese authorities to determine who is responsible for the scandal.

Salgado was forced out as head of BES after 23 years in June 2014 amid allegations of accounting irregularities at one of the bank's Luxembourg-based holding companies.

At a parliamentary session in December, Salgado denied "having given instructions" to falsify BES's accounts.

But the Bank of Portugal has since started a series of proceedings against most BES executives, including its former chief, suspected of "malicious acts" and "ruinous management".

The authorities have also seized property belonging to the Espirito Santo family, Portugal's last banking dynasty, and its financiers.

The questioning of Salgado comes a year to the day after his arrest in connection with another financial matter, where he was indicted for money laundering before being released on bail of 3 million euros.

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*

exhead of portugese bank bes put under house arrest exhead of portugese bank bes put under house arrest

 



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*

exhead of portugese bank bes put under house arrest exhead of portugese bank bes put under house arrest

 



GMT 15:46 2018 Wednesday ,12 December

Festive Fashion by Dubai-based designer ASMARAÏA

GMT 07:44 2017 Thursday ,28 December

Nermein Al Fekki participates in new drama show

GMT 20:37 2011 Thursday ,10 March

Guardian correspondent missing in Libya

GMT 15:29 2017 Tuesday ,16 May

Al Ahly Club is keeping Hossam El Badry

GMT 21:04 2018 Friday ,19 January

BDF holds graduation ceremony

GMT 02:24 2017 Tuesday ,29 August

Yogyakarta intensifies village tourism promotion

GMT 20:00 2014 Wednesday ,10 December

30 simple ways to change your life for better

GMT 06:40 2017 Saturday ,11 March

Iraq forces advance in Mosul

GMT 07:30 2017 Wednesday ,18 January

Daesh assault halts food aid drops in Syria's Deir Ezzor

GMT 15:16 2017 Monday ,30 October

Britain defends Balfour Declaration
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 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

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