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Ricardo Salgado and Amílcar Morais Pires set up a plan through the Eurofin company whose objective was to finance investments close to BES and to hide toxic assets.
In February 2014, when Banco Espírito Santo (BES) Ricardo Salgado admitted a further capital increase stating that "there is capital available for the necessary reinforcements without using the money from the company. 39; state. " A few days earlier, BES issued 400 million euros in bonds which, after several transactions, would allow the Zyrcan fund to gain a gain of 64 million euros and 142 million euros. Euros, which allowed Eurofin to earn 206 million euros. losses at BES. The Banco de Portugal indictment explains how BES used Eurofin and how the proceeds from these transactions were used "to a large extent" to "serve the exclusive interests of the Espírito Santo Group (GES) in sacrificing BES assets, its depositors, investors and other creditors. "
Eurofin was a company that transferred money between several units of the Espírito Santo Group (GES), in a way that was difficult to detect by third parties. According to the Banco de Portugal indictment, which Expresso had access to, Morais Sarmento, a former BES financial administrator, designed an operation in which he "gave instructions for the implemented and monitored the execution of a plan ". which was approved and followed by Ricardo Salgado, "by which the difference between what customers have paid and what BES has received has been appropriate by Eurofin
Eurofin has used companies such as Zyrcan, Martz Brenan, ECI and ECT to carry out the operations that were decided at the headquarters of BES in Lisbon by Ricardo Salgado, Amílcar Morais Pires and the BES staff of the Department of Finance, Market and Studies.
All these transactions were made in absentia of "other directors of BES, authorities, investors and the general public", the weekly quoted the accusation, saying that Eurofina was used to hide and finance the family's investments Espírito Santo, finance investments of people and entities close to the GES, hide assets with a high risk of devaluation, manipulate the value and demand of the shares of BES and Espírito S anto Financial Group (ESFG);
Among the main beneficiaries of the project, according to Baanco de Portugal, were Ongoing, Nuno Vasconcellos and Rafael Mora. The transfer of money to this company was effected by means of counterfeit option contracts, so that when they were executed, the amount lost by an entity and appropriated by the company was the same. other has already been determined, in order to cause a transfer of money from the first to the second. "This scheme of options has been widely used to transfer money from and to Euurofin without arousing suspicion." But also Eduardo Rodrigues' Prinvest was also funded by schemes with a Eurofin in minus 48 million euros.
Eurofin was also used to buy shares of BES or ESFG in order to manipulate the price, the weekly quoted
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