Portugal: Morais Pires to appeal €1.2M Banco de Portugal fine

The former BES director Amílcar Morais Pires on Thursday announced he is to appeal the Banco de Portugal decision to fine him €1.2 million for alleged infringement in the BES Angola case

The former BES director Amílcar Morais Pires on Thursday announced he is to appeal the Banco de Portugal decision to fine him €1.2 million for alleged infringement in the BES Angola case.

Portuguese weekly newspaper Expresso reported on Friday that Banco de Portugal had fined the 18 accused in the BES Angola case, with the most serious infringements attributed to the directors Ricardo Salgado (sentenced to €1.8 million) and Morais Pires (€1.2 million).

In a statement, Pires said that he will appeal the Banco de Portugal decision to “the only competent court,” accusing the institution of wanting to create in public opinion “a perception of convictions and judgements defined by the courts.”

According to Expresso, the supervisor “considers that it was proved that these directors acted in a willful manner to conceal from the regulator and the other members of the administration the problems that BES Angola faced.”

For Pires, it is a “perversely unfair and notoriously interested” decision.

“The intervention I had at BES Angola was to make it work, between 2012 and 2013, which had previously been poorly managed by Álvaro Sobrinho, as the Banco de Portugal knows,” the statement reads.

He also accuses Banco de Portugal and the directors of attempting to find scapegoats for “gravely and extremely harmful act for the Portuguese state that they committed in July/August 2014, when they controlled BES.”

BES former president Ricardo Salgado is also appealing the sentence of €1.8 million.

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