Altice co-founder indicted on 11 counts of corruption and money laundering

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Altice co-founder Armando Pereira is indicted for a total of 11 crimes of active and passive corruption, money laundering and forgery in the ‘Operation Picoas’ process, the defense confirmed today as he left the court.

Speaking to journalists, lawyer Manuel Magalhães e Silva confirmed that Armando Pereira is suspected of active and passive corruption in the private sector, money laundering and forgery of documents, stressing that his client is not targeted by the Public Prosecutor’s Office (MP) for the crime of fraud also under investigation in this case.

Manuel Magalhães e Silva
Manuel Magalhães e Silva

“What has been continuously said to be a monumental tax fraud is not imputed to Mr. Armando Pereira,” he said, adding: “From A to Z everything will be explained. He has read and reflected carefully on the indictment presented to him by the MP and is in a position to clarify the MP on all items of the indictment.”

The main defendant in the investigation of the Public Prosecutor’s Office (MP) known last week has been detained since Thursday and will begin to be interrogated today at the Central Court of Criminal Instruction (TCIC) by Judge Carlos Alexandre, after the interrogations of Jéssica Antunes and Álvaro Gil Loureiro are completed.

Hernâni Vaz Antunes, considered Armando Pereira’s ‘right-hand man’ and the fourth defendant detained in this case, will be the last to give evidence.

According to the Central Department of Investigation and Criminal Action (DCIAP) of the Public Prosecutor’s Office, the operation triggered on July 13, which led to three arrests, included about 90 home and non-home searches, including company premises and law firms in various parts of the country. Hernâni Vaz Antunes was the fourth defendant to be arrested, but this occurred only on the 15th, after he surrendered to the authorities.

At stake is allegedly a “vitiation of the Altice Group’s decision-making process, in terms of contracting, with practices harmful to the companies of that group and to competition”, which point to private corruption in active and passive form. The authorities also point out that at the tax level the State will have been defrauded of a sum “in excess of 100 million euros”.

The investigation also indicates the existence of evidence of “abusive use of the reduced taxation applied in terms of IRC in the Madeira Free Zone” through the fictitious tax domiciliation of people and companies. The MP believes that offshore companies have also been used, indicating the crimes of money laundering and forgery.

In the searches, DCIAP revealed that documents and objects were seized, “such as luxury vehicles and exclusive models with an estimated value of around €20 million”.

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