José Berardo

Berardo Foundation loses over €30 million in two years

The José Berardo Foundation, which the government terminated on July 19, recorded losses of more than €15 million euros last year, according to the report of the entity’s Board of Directors. According to the document, at the end of 2021 the José Berardo Foundation recorded a loss of €15,025,603.25 – a figure that compares with a negative net result of €15,055,176.14 in 2020. Says Lusa, due to its financial activity, the José Berardo Foundation went from profits of €102 million to losses of €245 million between 2007 and 2017… Meantime its namesake remains on €5 million bail facing suspicions of aggravated fraud, tax fraud and money-laundering