Summary:
18 defendants involved in one of Portugal's largest financial scandals
62 charges against Ricardo Salgado, including serious offenses
Total estimated losses of €11.8 billion due to the Grupo Espírito Santo collapse
Trial includes 700 witnesses and 1,698 victims
Initial statements scheduled for 9:30 AM, with further proceedings into Wednesday
Overview of the Case
The trial now underway involves 18 defendants, with over 300 crimes cited, 700 witnesses, and nearly 1700 victims. The indictment spans more than 4,000 pages.
Key Accusations Against Ricardo Salgado
Ricardo Salgado faces a total of 62 charges, including criminal association, active corruption, and qualified fraud. After six years of investigation, the Public Prosecutor’s Office has labeled Salgado as the leader of a criminal organization.
Financial Impact of the Scandal
The downfall of the Grupo Espírito Santo is estimated to have caused total losses of €11.8 billion. Now, a decade later, the case finally comes to trial.
Trial Proceedings
The first session of the trial is scheduled for 9:30 AM, presided over by Judge Helena Susano, alongside judges Bárbara Churro and Bruno Ferreira. The initial proceedings will be dedicated to introductory statements, which are expected to extend into Wednesday.
Given the case's complexity, the judge has allotted a maximum of 15 minutes for each participant to present their summaries of the facts they intend to prove. Additionally, 1,698 individuals are recognized as victims in this case.
The defendant statements and the start of witness testimonies are set for Thursday, beginning with the playback of testimony from Commander António Ricciardi. Although the former president of the GES Superior Council passed away in 2022, his testimony given to the Public Prosecutor in 2015 will be valid as witness evidence when played in court.
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