Banco Privado Português

Banco Privado Português

Industry	Investment services
Founded	1996
Defunct	2010
Fate	Bankruptcy, liquidation
Headquarters	Lisbon, Portugal
Key people	João Rendeiro
Products	Financial services Investment banking Investment management
Website	BPP Homepage (archived)

Banco Privado Português (Portuguese pronunciation: [ˈbɐ̃ku pɾiˈvaðu puɾtuˈɣeʃ], lit. 'Portuguese Private Bank', abbr. BPP) was a Portuguese private bank based in Lisbon.

Founded by João Rendeiro it is currently in liquidation.[1][2]

On 24 July 2009, Paulo Guichard and Salvador Fezas Vital, two former board committee members of BPP were suspended by Banco de Portugal, and joined João Rendeiro in the BPP case, to be indicted for falsifying accounts, tax crimes and money laundering.[3]

On 15 April 2010, the Banco de Portugal, Portugal central bank, "after verifying the impossibility of recapitalization and recovery efforts of this institution", ordered the liquidation of the Banco Privado Português.[4]

On 11 October 2010, the Polícia Judiciária conducted searches at the homes of former officials of the BPP under the scope of an investigation into suspected money laundering and fraud.[5]

On 11 February 2013, João Rendeiro, Fezas Vital and Paul Guichard, former members of the board committee were charged by the Public Ministry with fraud, in a matter of a Collective investment scheme that damaged hundreds of clients for an estimated 41 million euros.[6] In May 2015, assets from João Rendeiro were seized to pay a 4.7 million euro fine from the Bank of Portugal.[7]

On 29 September 2021, João Rendeiro announced in his personal blog he would not be returning to Portugal for his trial, and international arrest warrants were issued for him.[8]

On 11 December 2021, Portuguese police announced Rendeiro had been arrested in South Africa.[9] The arrest was made at Umhlanga Rocks, Durban by Interpol's National Crime Bureau in Pretoria, acting on an Interpol Red Notice.[10] On 13 May 2022, Rendeiro was found dead in his prison cell in Westville Prison, Westville, KwaZulu-Natal.[11] The cause of death was ruled to have been suicide.[12] The extradition of Rendeiro to Portugal was planned to be decided in court in June 2022.[13]

References

1. "BPP: João Rendeiro saldou três milhões de dívidas ao fisco". Expresso. 31 July 2009. Retrieved 16 July 2011.
2. "MENSAGEM DA COMISSÃO LIQUIDATÁRIA". Liquidation Board. Retrieved 5 February 2013.
3. "Caso BPP: constituídos mais dois arguidos". Diário de Notícias. 25 July 2009. Retrieved 16 July 2011.
4. Lima, Pedro (16 April 2010). "Banco de Portugal decreta fim do BPP". Expresso. Archived from the original on 21 April 2010. Retrieved 16 July 2011.
5. "BPP: Buscas na casa de ex-administradores". Expresso. 11 October 2011. Archived from the original on 15 November 2010. Retrieved 16 July 2011.
6. "Rendeiro acusado de burla no Banco Privado Português". Expresso. Archived from the original on 16 April 2013. Retrieved 12 February 2013.
7. "Caso BPP. Bens no valor de 4,7 milhões de euros arrestados a João Rendeiro". Observador. 6 May 2015. Archived from the original on 18 August 2015. Retrieved 30 May 2015.
8. "Emitidos mandados de captura internacional para João Rendeirourl". TSF. 29 September 2021. Archived from the original on 29 September 2021. Retrieved 29 September 2021.
9. "Fugitive Portuguese banker captured in South Africa". Reuters. 11 December 2021. Retrieved 11 December 2021.
10. Evans, Jenni. "Interpol apprehend fugitive Portuguese banker in Durban". News24. Retrieved 11 December 2021.
11. "Former Portuguese bank chief found dead in South African jail". Reuters. 13 May 2022. Retrieved 23 December 2022.
12. "Portuguese fugitive dies in KwaZulu-Natal prison ahead of court appearance".
13. https://www.rtp.pt/noticias/mundo/joao-rendeiro-morreu-na-prisao-na-africa-do-sul_n1404831 (in Portuguese)

External links

• BPP Homepage