A Lisbon court has handed out further stiff jail terms for fraudsters involved in the BPN banking scandal, but the likelihood of any of them going to jail remains slim. All seven condemned, including the bank’s former president – already facing 14 years behind bars for the principle fraud – will be appealing, which in this country means that they remain free. Among the guilty is former PSD health minister Arlindo de Carvalho.
The collective of judges considered that the men all “played with money of tax-paying citizens who put their trust in banks and their directors”.
Indeed, “no one can understand how anyone dedicated to the facts under consideration today could even get to the top of a banking hierarchy”, said leader of the bench Maria Joana Grácio.
But to the top they got, with a “flagrant disregard” for other people’s money.
Former BPN boss José Oliveira e Costa (now 83 and apparently very ill) “acted without being equal to the responsibilities he assumed, taking full advantage of the image of seriousness to which he was associated”, whereas Arlindo de Carvalho displayed “greed and opportunism” in what amounted to another gigantic fraud.
But the jail terms and condemnations handed out this week have all been put on hold as the guilty players will be mounting appeals which will almost certainly drag the final results out for years
The BPN banking scandal “hit” ten years ago and has originated in a number of spin-off cases. But up till now, no one found responsible has gone to jail (https://www.portugalresident.com/bpn-fraud-finally-%E2%80%98jails%E2%80%99-culprits-all-of-whom-remain-scott-free).
natasha.donn@algarveresident.com
