The Court Supervision confirmed the fines imposed on the former managers of the BPP by the Bank of Portugal (BoP). At issue are fines above 10 million.
John Rendeiro, former maximum charge of the failed bank, saw confirmed the decision that will have to pay EUR 1.5 million.
The Court Competition, Regulation and Supervision in Santarém, also condemned the BPP to a fine of two million euros, which suspended in full for three years, on the grounds of “protecting creditors”.
In court, Judge Claudia Roque read the sentence absolving the directors that were condemned by the BOP, including Nuno Paramés and Rui Domingues, which had been fined 75,000 and 90,000 euros, respectively and reduces the fines imposed on Paulo Lopes ( 400,000) and Vítor Castanheira (190,000) to 125,000 euros suspended in full for three years, something justified by the period in which they were directors and the short time in which exercised management functions.
The judge made still issue should be noted that the directors “can and should be held accountable,” describing the BPP as a bank “too small, too hierarchical.”
Remember that the attorney who had the case in hand, Edit Carvalho de Mallorca, asked the maintenance of the EUR 2.5 million fine imposed on the administrative decision on appeal to the Private Holding.
The prosecutor had asked for further reductions in the fines imposed on John Rendeiro, originally ordered to pay nearly two million, to EUR 1.5 million, and Paul Guichard (which included a reduction of 1.5 million to EUR 1.3 million). In both cases, it was argued that it was not proved the offense of asset overvaluation.
The process began at the Court of Competition, Regulation and Supervision for about a year. The deadline for completion of all procedural tasks is set for November 25 next year.
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