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Ricardo Salgado

July 24, 2014

Ricardo Salgado, who until last month was the third-gen chief executive at Banco Espirito Santo, has been arrested by officials in Lisbon, Portugal, on charges of money laundering and tax evasion. 

Ricardo Salgado, who until last month was the third-gen chief executive at Banco Espirito Santo, has been arrested by officials in Lisbon, Portugal, on charges of money laundering and tax evasion.

The problems surrounding Portugal’s largest listed bank came to light in June when a $1 billion rights offering reduced the Espirito Santo family’s ownership stake from 54% stake to 46%.

July 11, 2014

Espirito Santo Group fears trigger stock sell off; Mori Trust meets increased tourism with new hotels; Rottapharm Madaus scrap IPO; L’Oréal buys back shares from Nestlé.

Espirito Santo Group fears trigger stock sell off; Mori Trust meets increased tourism with new hotels; Rottapharm Madaus scrap IPO; L’Oréal buys back shares from Nestlé.

Espirito Santo Group fears trigger stock sell off

Share prices at Portugal’s largest listed bank fell more than 17% on Thursday after parent company Espirito Santo International (ESI) missed debt payments “to a few clients”. 

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