Biography Of Alvaro Sobrinho (Age , Wife , Net Worth) - He is an Angolan businessman and former president of Banco Esprito Santo Angola (BES Angola), has been accused of embezzling hundreds of millions of euros from the bank to accounts he controlled, notably in Switzerland, by Portugal’s Public Ministry.
According to Portugal Resident, the businessman was charged with aggravated fraud, abuse of trust, and money laundering in connection with an alleged scheme involving the lodging of approximately €6 billion ($6.12 billion) in the form of “irregular loans” to “faithful trustees” between 2009 and 2013.
Since he was asked to forfeit his passport and forbidden from leaving Portugal in March, no one publication has been able to establish Sobrinho’s location at the time the ministry made the claims.
Following a lengthy struggle with Portugal’s Central Criminal Investigation Court in March, the businessman surrendered his passports as well as a request for a €6-million ($6.12 million) security deposit via the mortgage of four real estate assets.
The allegations came nearly four months after the Portuguese Central Department of Inquiry and Criminal Action launched a new investigation into the businessman for allegedly stealing millions of euros from BES Angola, one of Angola’s leading financial services organizations.
Sobrinho was accused of stealing more than €350 million ($357.2 million) from BES Angola (now Banco Economico) out of a total of €400 million ($408.3 million) that benefitted a group of defendants, including Amlcar Morais Pires and former banker Ricardo Salgado, in the investigation.
Escom’s founder, Helder Bataglia, was the administrator of BES Angola to its bankrupt parent firm, Banco Espirito Santo, a Portuguese bank dissolved in 2016.
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