THE ILLEGAL use of offshore banks to acquire BCP shares could be considered a financial market crime, according to financial watchdog regulator CMVM.
In the ongoing investigations into alleged financial abuses and fraud by Millennium bcp former directors, the former vice-governor of the Bank of Portugal, António Marta, is to be called to give evidence before a parliamentary committee.
Last week, a Parliamentary Inquiry Commission was formally set up to investigate the BCP affair, led by PSD frontbencher Fernando Negrão.
The Commission now has 60 days to complete the inquiry and will start by hearing evidence from António Marta who left BdP two years ago.
Between 1999 and 2005, part of the time frame involving the alleged abuses, António Marta held a supervisory post at the Bank of Portugal.
António Marta had called for inquiries in 2004 at BCP over loans granted to some offshores to buy up BCP shares.
At the time, António Marta accepted the explanation he was given by former BCP Chairman Jardim Gonçalves and the case was shelved.
But the PSD faction in parliament want former Bank of Portugal governor Tavares Moreira punished for ‘irregularities’when President and CEO of the Central Banco do Investimento (BCI).
Tavares Moreira and his team are being accused of ‘blocking financial sector activities for seven years’. Tavares Moreira, also an ex-Minister of Finances, is said to be taking legal counsel .
The current investigation by the commission is a result of complaints brought about by leading BCP shareholder Joe Berardo.