PJ judicial police are conducting searches today at the headquarters of Novo Banco and at the offices of consulting firm KPMG, in Lisbon, in an investigation into suspected active and passive corruption, the force has announced.
In a statement, the PJ says that operation “Hair-Cut” aims to execute “dozens of search and seizure warrants and computer searches, investigating facts that may constitute the crimes of passive and active corruption in the private sector, aggravated fraud and money laundering”.
The investigation concerns suspicions of “illegalities in the sale of real estate assets held by a banking institution financially supported by the Portuguese state, through the Resolution Fund, resulting in substantial losses for the bank in question and for the interests of the state.”
CNN Portugal, which broke the news, reports that the probe concerns the sale of assets of the defunct Banco Espírito Santo.
Jornal Económico adds the detail that “the sale of real estate assets by Lone Star managers who ran Novobanco is under investigation by the courts for allegedly failing to comply with market rules, with suspicions of discount sales and alleged favouritism in various asset sales carried out by Novobanco since 2018”.
The online adds that suspicions relate to “sales of valuable bank assets below market value – generating high profits with subsequent payment of undue commissions”.
The operation, led by the Central Department of Investigation and Criminal Action (DCIAP) and carried out through the National Unit for Combating Corruption (UNCC) of the PJ, involves more than 100 PJ officers, 14 Public Prosecutors, three Investigating Judges, and one member of the Tax Authority (AT).
According to the statement, the investigation continues with the analysis of the evidence collected, “aiming at the full ascertainment of all criminal conduct and the swift conclusion of inquiries.”
In a press release, KPMG Portugal confirmed that judicial authorities are currently conducting inquiries at its Lisbon offices to gather information about one of its clients, but insists that “KPMG Portugal is not a target in the operation and remains, as always, available to collaborate with the judicial authorities in everything within its power.”
This far there has been no statement from the board of Novo Banco.
source material: Lusa/ SIC/ Jornal Económico/ CNN Portugal
