Banco Privado Português

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Banco Privado Português
IndustryInvestment services
Founded1996
Defunct2010
FateBankruptcy, liquidation
HeadquartersLisbon, Portugal
Key people
João Rendeiro
ProductsFinancial services
Investment banking
Investment management
WebsiteBPP Homepage (archived)

Banco Privado Português (BPP) was a Portuguese private bank based in Lisbon.

Founded by João Rendeiro it is currently in liquidation.[1][2]

On 24 July 2009, Paulo Guichard and Salvador Fezas Vital, two former board committee members of BPP were suspended by Banco de Portugal, and joined João Rendeiro in the BPP case, to be indicted for falsifying accounts, tax crimes and money laundering.[3]

On 15 April 2010, the Banco de Portugal, Portugal central bank, "after verifying the impossibility of recapitalization and recovery efforts of this institution", ordered the liquidation of the Banco Privado Português.[4]

On 11 October 2010, the Polícia Judiciária conducted searches at the homes of former officials of the BPP under the scope of an investigation into suspected money laundering and fraud.[5]

On 11 February 2013, João Rendeiro, Fezas Vital and Paul Guichard, former members of the

Collective investment scheme that damaged hundreds of clients for an estimated 41 million euros.[6] In May 2015, assets from João Rendeiro were seized to pay a 4.7 million euro fine from the Bank of Portugal.[7]

On 29 September 2021, João Rendeiro announced in his personal blog he would not be returning to Portugal for his trial, and international arrest warrants were issued for him.[8]

On 11 December 2021, Portuguese police announced Rendeiro had been arrested in South Africa.

Umhlanga Rocks, Durban by Interpol's National Crime Bureau in Pretoria, acting on an Interpol Red Notice.[10] On 13 May 2022, Rendeiro was found dead in his prison cell in Westville Prison, Westville, KwaZulu-Natal.[11] The cause of death was ruled to have been suicide.[12] The extradition of Rendeiro to Portugal was planned to be decided in court in June 2022.[13]

References

  1. Expresso
    . 31 July 2009. Retrieved 16 July 2011.
  2. ^ "MENSAGEM DA COMISSÃO LIQUIDATÁRIA". Liquidation Board. Retrieved 5 February 2013.
  3. ^ "Caso BPP: constituídos mais dois arguidos". Diário de Notícias. 25 July 2009. Retrieved 16 July 2011.
  4. Expresso. Archived from the original
    on 21 April 2010. Retrieved 16 July 2011.
  5. Expresso. 11 October 2011. Archived
    from the original on 15 November 2010. Retrieved 16 July 2011.
  6. Expresso. Archived from the original
    on 16 April 2013. Retrieved 12 February 2013.
  7. ^ "Caso BPP. Bens no valor de 4,7 milhões de euros arrestados a João Rendeiro". Observador. 6 May 2015. Archived from the original on 18 August 2015. Retrieved 30 May 2015.
  8. TSF. 29 September 2021. Archived
    from the original on 29 September 2021. Retrieved 29 September 2021.
  9. ^ "Fugitive Portuguese banker captured in South Africa". Reuters. 11 December 2021. Retrieved 11 December 2021.
  10. ^ Evans, Jenni. "Interpol apprehend fugitive Portuguese banker in Durban". News24. Retrieved 11 December 2021.
  11. ^ "Former Portuguese bank chief found dead in South African jail". Reuters. 13 May 2022. Retrieved 23 December 2022.
  12. ^ "Portuguese fugitive dies in KwaZulu-Natal prison ahead of court appearance".
  13. ^ https://www.rtp.pt/noticias/mundo/joao-rendeiro-morreu-na-prisao-na-africa-do-sul_n1404831 (in Portuguese)

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