Investigation shows Bank of Portugal “knew about BES bankruptcy 17 months before institution collapsed”

A documentary screening tonight promises to show that bank regulators knew what was happening at Banco Espírito Santo 17 months before the private bank collapsed.

The three-part SIC television investigation will also allude to the involvement in the scandal of both Dubai and Angola.

Producer Pedro Coelho told TSF radio today there is no doubt that BdP governor Carlos Costa concealed facts when addressing MPs’ inquiries in the aftermath of BES’ downfall in December 2014.

Talking on ahead of tonight’s screening, Coelho said: “Technically, GES (the Espírito Santo Group) was broke in January 2013, and the Bank of Portugal came to know this in a very transparent way”.

BdP was also aware of the form in which Dubai and Angola had become “confused” in the situation but apparently did nothing about it.

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