Banco Privado Português directors trial – ‘severe punishment’ called for

bppAs the trial of the former directors of this decreased Banco Privado Português nears its completion, prosecution attorney have requested the courts to throw the book in João Rendeiro, the former president of this lender.

Stating who Rendeiro, Paulo Guichard and Salvador Fezas Vitalis ought to be “severely punished,” the attorney acting on behalf of this lender, said they should be locked up.

Salvador Fezas Vital need to be sentenced to jail, There’s no option, because this court has to prove – later Banif and BES – there must be a time Once We must state ‘that’s enough,’ said attorney, Miguel Pereira Coutinho, addressing the courtroom and insisting that the defendants has to be seriously sanctioned” because instances of banks which collapse because of contracted administration, “can not be repeated.”

Various public announcements João Rendeiro has made, shows that he doesn’t have any regrets because of his behavior at BPP, mentioning a 2016 interview when Rendeiro stated that he proceeds to “exercise his gifts,” through consulting solutions.

At the court hearing the Public Prosecutor requested for a prison term of seven to nine years for João Rendeiro and six to eight years for Paulo Guichard and Salvador Fezas Vital, contemplating these key players in the scam directed by Dr.

The criminal case worries pc fraud and falsifying records between 2001 and 2008 if the Bank of Portugal finally intervened.

(Decision)BPP was a personal lender for high net-worth individuals, based by João Rendeiro. The bank ‘lack of bandwidth’ directed the Bank of Portugal to intervene in the conclusion of 2008.

In July 2009, Paulo Guichard and Salvador Fezas Vital, 2 prior BPP board members had been suspended from the Bank of Portugal, also united João Rendeiro for fees of falsifying accounts, tax offenses and money laundering.

In October 2010, the Judicial Police conducted investigations in the houses of former BPP directors exploring money laundering and fraud.)

In May 2015, resources possessed by João Rendeiro were captured to cover a $4.7 million fine to the Bank of Portugal.

The closing court date for all these crooks is January 25th and, sentencing will be declared.

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