PJ police investigating a millionaire scam involving the buying and selling of yachts in Vilamoura Marina have arrested a Brazilian man, now said to be out on €100,000 bail.
According to a report in Correio da Manhã, the man – who already had an arrest warrant issued in his name – was presented before a judge on Friday, who allowed him to walk free “despite a strong danger that he may abscond”.
The 43-year-old businessman was arrested on suspicion of fraud and money-laundering connected to a business based at the marina that has been forced into insolvency.
According to CM, the man is suspected of having “appropriated large sums of money”.
The cash seems to have come from four millionaire deals involving luxury yachts.
The total of sums of money involved exceeded €5 million, writes CM.
Six people have been given “arguido” (official suspect) status, while there are thought to be another five who have been swindled or otherwise damaged.
CM adds that the PJ has managed to seize “more than €2.5 million” in various bank accounts flagged by the investigation.
Authorities “suspect the fraud money was subsequently camouflaged through various financial operations involving another company”, it writes today.
photo credit Courtesy of Lusort