Les Entités D'alvaro Sobrinho Ne Peuvent Débuter Leurs Opérations Même Si Les Permis D'opérations Ont Été Octroyés !
Les Entités D'alvaro Sobrinho Ne Peuvent Débuter Leurs Opérations Même Si Les Permis D'opérations Ont Été Octroyés !
Les Entités D'alvaro Sobrinho Ne Peuvent Débuter Leurs Opérations Même Si Les Permis D'opérations Ont Été Octroyés !
COMMUNIQU
Following recent press articles involving Mr. Alvaro de Oliveira Madaleno Sobrinho (Mr.
Sobrinho), the Financial Services Commission (the Commission) wishes to covey the
following:
2. All the applications were supported by all necessary documents including constitutive
documents; customer due diligence on promoters, beneficial owners, shareholders and
directors; prospectus; administration agreement, amongst others.
3. The Commission processed and scrutinised the applications as per the established
procedures and practices followed in such cases. The scrutiny of Mr Sobrinho revealed
the following:
In June 2011, Alvaro Sobrinho, President of the Banco Espirito Santo de Angola, was
suspected in the Portuguese investigation to 48 million illegally transferred from Banco
Nacional de Angola (BNA) to the main national banks through the BES. Three
Portuguese businessmen are also being investigated by the Judicial Police (PJ).
The authorities began to investigate the fraud scheme in Luanda in 2010 after found
more than 90 million was diverted from BNA through the BES London, the money was
deposited to several accounts in Portugal. Alvaro Sobrinho and other Portuguese
businessmen who are under suspicion would be the beneficiaries of the transfer. The
money was diverted to various companies' accounts and offshore companies.
4. The Commission requested the Management Company for an enhanced due diligence to
be conducted on Mr. Sobrinho, and requested the applicants to provide their comments
with respect to the adverse opinion.
a. Summary of criminal proceedings dated 23 May 2013 carried out against Mr.
Sobrinho both in Angola and Portugal;
b. Notice of Clearance from the Public Prosecution Service Attorney Generals
Office of Angola dated 8 November 2011 declaring that the State of Angola had
no wish to pursue any legal action against Mr. Sobrinho.
6. Based on the submissions and on being satisfied that the applications were in order, the
Commission granted the following licences:
8. It has been reported in February 2017 that the ongoing investigation by the Portuguese
Criminal Investigation and Penal Action Department (DCIAP) has reportedly
uncovered a pattern of unsecured loans by BESA [] and the recipients of these loans
without collaterals belonged to the Espirito Santo Group, to companies linked to Alvaro
Sobrinho [..].
The report suggests that the prosecutor himself is being prosecuted for wrong doings in
relation to his decision not to proceed in various cases, inter alia, including a case
involving Mr. Sobrinho.
9. In view of the foregoing, the Licensees have been requested not to start operations
without the prior clearance of the Chief Executive. So far none of the Licensees have
commenced business operations.