The son-in-law of Altice group co-founder Armando Pereira, Yossi Benchetrit, responsible for Altice USA’s purchasing and real estate area, is on leave, an official source from the North American subsidiary confirmed to Lusa today.
“In response to the circumstances in Portugal, we immediately initiated an internal investigation,” said an official source from Altice USA, when asked about the issue, as part of the ‘Picoas operation’.
“While we conduct this investigation, our chief procurement officer [Yossi Benchetrit] has been placed on leave to ensure that the company remains focused on its operations and customer service,” the same source explained.
“On July 15, Alexandre Fonseca left the position of chairman of the board” and Altice USA “appointed CEO [executive chairman] Dennis Mathew” ‘chairman’ of the subsidiary, accumulating the two positions, said the same source.
“We conduct our business with the highest integrity and will continue to operate our business with the best interest of our shareholders, customers and employees first,” he said.
The ‘Picoas operation‘, triggered on July 13, led to three arrests, including that of Altice group co-founder Armando Pereira, had about 90 home and non-home searches, including the headquarters of Altice Portugal, in Lisbon, and premises of companies and offices in various parts of the country, according to the Central Department of Investigation and Criminal Action (DCIAP) of the Public Ministry (MP). Hernâni Vaz Antunes was the fourth defendant to be arrested, but this occurred on the 15th, after he surrendered to the authorities.
This was a joint action by the MP and the Tax Authority (AT).
At issue, allegedly, is a “vitiation of the Altice group’s decision-making process in terms of contracting, with practices harmful to the group’s own companies and to competition”, which point to private corruption in active and passive form.
The authorities consider that the State has been defrauded of a sum “in excess of €100 million” in tax terms.
On June 2, 2015, Altice completed the purchase of PT Portugal.
