Get all your news in one place.
100's of premium titles.
One app.
Start reading
Reuters
Reuters
Business
Sergio Goncalves

BES bank former patriarch gets 6-year jail sentence; lawyer says appeal planned

BES Espirito Santo GES Lisbon
FILE PHOTO: Ricardo Salgado, former CEO of rescued Portugese bank Banco Espirito Santo (BES), adjusts his glasses during a parliament committee to speak on BES' situation at the Portuguese parliament in Lisbon December 9, 2014. REUTERS/Rafael Marchante/File Photo

The former patriarch of the Espirito Santo family of bankers, Ricardo Salgado, was sentenced to six years in jail by a Lisbon court on Monday for appropriating 10.7 million euros ($11.65 million) from defunct lender Grupo Espirito Santo (GES).

It is the first effective prison sentence for the former banker, who, since the collapse of GES and Banco Espirito Santo (BES) in 2014, is facing several court cases.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Robert De Niro's canine secret leaves Wag the Dog co-star Woody Harrelson shocked
Woody Harrelson revealed his surprise at discovering that his Wag the Dog co-star Robert De Niro owns 18 dogs, two of which starred alongside him in his movie The Alto Knights.
BANG Premier
BANG Premier
More Than 37,000 Squishy Toys Recalled as Water Beads Inside Can Swell in a Child and Evade X-Rays
About 37,480 squishy toys with water beads are recalled. Learn the warning signs of ingestion and why X-rays may miss swallowed beads.
Medical Daily
Medical Daily
Is Store-Bought Rotisserie Chicken Actually Healthy? Here’s What to Check on the Label
A grocery store rotisserie chicken can make dinner easier without the cost of takeout or the work of cooking from scratch. It provides protein and can be used in salads, sandwiches, soups, and family meals throughout the week. However, not every rotisserie chicken has the same nutritional profile. Some contain…
Grocery Coupon Guide
Grocery Coupon Guide
Why Are Eggs Refrigerated in America but Left on the Shelf in Other Countries?
Walk into a grocery store in the United States, and you will find eggs in a refrigerated section. Visit many European grocery stores, however, and eggs may sit on ordinary shelves at room temperature. This difference often surprises American travelers who wonder why the same food requires different storage methods.…
Grocery Coupon Guide
Grocery Coupon Guide
Kim Kardashian Reveals Five Nannies for Four Kids as Kanye West and Bianca Censori Step Out in Los Angeles
Kanye West and Bianca Censori were seen with Playboi Carti at ComplexCon in Los Angeles, shortly after Kim Kardashian discussed raising their four children and using five nannies.
International Business Times UK
International Business Times UK
Woman says a male canvasser knocked at her door and wanted to talk pro-life. Then she asked him: ‘Have you ever been pregnant?’
She explained why she is pro-choice.
We Got This Covered
We Got This Covered
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play