Banco Espírito Santo Angola Trial: Former Banker and GES President Face Judgment Day

Banco Espírito Santo Angola Trial: Former Banker and GES President Face Judgment Day

The former president of Banco Espírito Santo Angola (BESA), Álvaro Sobrinho, and former GES president, Ricardo Salgado, are facing trial in the BES Angola case. The decision of the Lisbon Criminal Instruction Court was announced on Monday.

The Lisbon Criminal Instruction Court has sent Álvaro Sobrinho, Ricardo Salgado, and three other defendants to trial, fully validating the Public Prosecutor's accusation. The judge, Gabriela Lacerda Assunção, stated that there is a significant amount of evidence and deemed a conviction probable in the case that led to the downfall of Banco Espírito Santo due to alleged embezzlement of hundreds of millions of euros in credit grants.

The other three defendants in the case, Amílcar Morais Pires, Hélder Bataglia, and Rui Silveira, will also face trial.

Álvaro Sobrinho is accused of 18 counts of breach of trust and five counts of money laundering. Ricardo Salgado is charged with five counts of breach of trust and one count of aggravated fraud.

Ricardo Salgado's lawyer argued that his client's Alzheimer's disease compromised his defense, but the judge ruled that it does not affect his essential abilities to comprehend and express himself.

Key points:

• The Lisbon Criminal Instruction Court has sent Álvaro Sobrinho, Ricardo Salgado, and three other defendants to trial.
• The court fully validated the Public Prosecutor's accusation.
• The case involves alleged embezzlement of hundreds of millions of euros in credit grants which led to the collapse of Banco Espírito Santo.
• Álvaro Sobrinho is accused of 18 counts of breach of trust and five counts of money laundering.
• Ricardo Salgado is charged with five counts of breach of trust and one count of aggravated fraud.
• Ricardo Salgado's lawyer argued that his client's Alzheimer's disease compromised his defense, but the judge ruled that it does not affect his essential abilities to comprehend and express himself.