Ricardo Salgado made a transfer of 1 billion of euros to out of the country days before the bank crashed.
It weas reporters who figured it out and alter noticed that within a short time span along with Salgado, another ~6bn were trasnfered out of the country. That was when the government blamed it on a system bug.
It will be a short span. As always, it’s election time so there’s plenty to go around.
Until Portugal addressed the corruption within the government, no tax will be enough. For example, Ricard0’s bank, BES, the day before it crashed we had a the finances minitry come to TV to state the bank was solid… we all know now that the government knew it was gonna crash for over an year now… but they kept helping the guy. A team within the bank of Portugal had provided a report saying that not only BES was in trouble but that the Bank of Portugal should prohibid Ricardo from being its CEO. The bank of Portugal buried the report.
Ricardo back then was know as the “Owner of all” because usually company fund a specific party, but Ricardo funded them all. So he was always in the government good graces regardless of who was in power.
But BES is only one example, we have plenty. We have a public bank, and it’s known that the public bank would grant multi million loans to friends that would later not pay them. No one is held accountable cause its the cost of doing business.
Last month reporters found out (cause someone spilled the beans) that the government was buying expensive equipment for hospital (example CT scan machines) but the hospitals were storing them instead of having them installed. Then they were claiming (actually still are cause no one did shit) they were not able to do the CT scans so they had to sign agreements with private hospitals to do it for them…
…I could go on. Public infra is another cesspit of corruption with officials being bribed to hand out projects to the highest bidder…
…dude… I could go on and on with this… till you were put to sleep. I think that only Brazilians out do us in corruption and that’s probably because we colonized them back in the day…
Edit: I think I’m a positive guy, I can’t really complain about my life, but that doesn’t prevent me from seeing the reality around me.
Edit 2: Have to include one of my favorite examples. A few years ago a bank, BPN went bankrupt and what did the government do? I’ll tell ya…
They nationalized the bad debt AND every bad credit was taken over by the state which at the time created what they called a financial vehicle (bad credit = credit the bank conceded with small chance of being repaid by who asked for it)
BUT the bank owned an insurance company that was actually doing pretty well… so did they natinalized that? no… they said it was illegal to do so…
End result? The state took over the toxic assets and “sold” gave the good assets away. After spending over a billion on the bank, recovering the bank, sold the bank to Isabel dos Santos, at the time the daughter of Mozambique President for 30 millions euros AND (yeah it doesn’t end here) agreed to pay the idemization of every employee Isabel dos Santos decided to fire within the year AND (it goes on) Isabel would only pay IF by the end of the first year the bank profit exceded the 30 million. Great deal hein?
And you thought it ended here? no…
One of these companies that owned mon ey to BPN, owned 400 million euros. And that was considered a dificult to recover credit so it became the responsability of the state. When the state told this company that they had to pay their debt (the 400 million), so ya wanna know their reply?
Their reply was that there was nothing to pay cause they owned BPN and BPN had bankrupt and they did not consider the trasnfer to the state as beign legit. So the debt was no more.
… and now you’re wondering about the legal case, right? wrong, there was none.
But here gets the kicker. Fast forward a year or so, the state was doing business with this company… like nothing ever happened.