Portugal: Former BESI boss willing to testify about compensation fund – Macau Business

The formerCEOof Banco Esprito Santo Investimento (BESI), Jos Maria Ricciardi, said on Tuesdaythat a provisionhad beenmade to compensate BES victimsandhewaswilling to testifytothis in court.

I was a living witness that anintegral provision was made to pay you what was due to you, and that resulted from your trust in a name that, unfortunately, despite having been credible for many years, has been destroyed, he told the group ofvictimswho demonstrated today at the Campus da Justia in Lisbon.

I am a witness that the provision was set up, and I will testify at your side if you ever need me to, he stressed before entering the courtroom.

Jos Maria Ricciardi spoke briefly with the group ofvictimswhohadbeen demonstratingon Tuesdayafternoon and lamented the situation experienced by these people, considering it very sad and that it should be a priority for justice.

On a day when he was scheduled to be questioned as a witness at the start of the pre-trial phase of the BES/GES case, the cousin of the former leader of the Esprito Santo Group, Ricardo Salgado, ended up leaving a few minutes after arriving, his testimony having been delayed as the proceedings conducted by the investigating judge Ivo Rosa were postponed.

Stressing that he was also a witness for the Public Prosecutors Office (MP) in this case which does not call to testify in the pre-trial proceedings, a phase reserved only for defendants and assistants the former chairman of BESI admitted having been quite surprised when the indictment of the case was known, given its dimension.

I am no longer surprised. What happened and has been duly proven is that important facts had been hidden. When they came out, they came out. And some people knew and people who didnt know, people who reported it to the authorities and others who didnt report it. That was my case when I found out. It was my obligation, he said.

Jos Maria Ricciardi, who confirmed he had no relationship with Ricardo Salgado today, also reiterated to journalists his desire to create a banking institution.

It is complicated, but I will try to do it: first, to try to clear the name that was destroyed and that was 150 years old and made these gentlemen invest; second, if I have some success and if I can still help to compensate a part of what these gentlemen suffered, I will also do it, concluded the 67-year-old former member of the executive committee of BES.

The steps of the first session of the instruction included the hearing of four witnesses presented by the defendant Joo Martins Pereira (director of compliance of BES and accused of three crimes of qualified fraud), namely Carlos Calvrio, Ana Saraiva, Nelson Pita and Jos Maria Ricciardi.

However, the questioning of Carlos Calvrio went on longer than expected, and Judge Ivo Rosa eventually postponed the hearings of the last two witnesses, closing todays session with the testimony of Ana Saraiva.

The BES/GES case has 30 defendants (23 people and seven companies) in 361 crimes.

Considered one of the largest cases in the history of Portuguese justice, this case brings together in the main case 242 enquiries, which have been joined, and complaints from more than 300 people, individuals and legal entities living in Portugal and abroad. According to the Public Prosecutors Office (MP), whose indictment ran to around 4,000pages, the collapse of the Esprito Santo Group (GES) in 2014 caused losses of over 11.8 billion.

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Portugal: Former BESI boss willing to testify about compensation fund - Macau Business