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The Competition Court today sentenced Ricardo Salgado and Morais Pires to pay 290,000 and 100,000 euros, respectively, reducing the fines imposed for violating the rules on money laundering and terrorist financing.
Upon reading the judgment of the appeal presented by the former president of BES, Ricardo Salgado, and by the former administrator Amílcar Morais Pires, the Court of Competition, Regulation and Supervision (TCRS), in Santarém, acquitted the two of the conviction due to lack of mechanisms control that had been applied by the Bank of Portugal (BdP).
However, it condemned Salgado and Morais Pires, as possible and not directly intentional, for the five administrative offenses due to non-compliance with the obligations to apply preventive measures and provide information to the supervisory authorities and adopt additional preventive measures in branches abroad. .
In this process, Ricardo Salgado and Amílcar Morais Pires contested the fines of 350,000 and 150,000 euros, respectively, imposed by the BdP for not applying measures to prevent money laundering and terrorist financing in the branches and branches of the bank in Angola, Cabo Green, Miami and Macao.
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