A company owned by the defunct Banco Espírito Santo and members of ‘the clan’ including Ricardo Salgado, successfully promoted tax evasion schemes to many client companies.
The public prosecutor’s indictment against Empresa de Serviços e Consultoria S. A. (ESGER) names several managers and customers as part of Operation Furaçao.
A total of 19 of ESGER's customers formally have been accused by the Central Department of Investigation and Penal Action for tax fraud of more than €16 million between 2000 and 2008 in a case that has dragged on for over a decade.
Several dozen client companies were caught defrauding the taxman, but many decided to pay the amounts owed rather than face a judge.
ESGER’s main shareholder is BES which owns 81.8% of the shares, BIC owns 16.66% with Ricardo Salgado, José Manel Espirito Santo and Mário Mosqueira do Amaral, each with 0.067%.
As none of these shareholders ran the company, the prosecution turned the spotlight on João Graça, António Holstein, António Cafum Ramos and Jorge Eduardo Palitos, the ESGER directors promoting the tax fraud scheme.
Customers came directly to ESGER or were recommended by BES according to the prosecutor who has evidence that the BES ‘Department of Private Banking’ advised their clients to get in touch with ESGER which could provide a solution to their tax problems.
These solutions involved setting up and managing front companies in tax friendly regimes including the UK and Ireland and arranging bogus purchases and sales to evade tax liabilities in Portugal.
These fraudulent schemes deprived the Portuguese of around €46 million, but about two-thirds of this total already has been paid off and those defendants that paid up have avoided criminal charges.
Those that refused to pay up are the 19 now charged with qualified tax fraud and include companies such as Asparel, Decomed, Nutriplus e The Engineering Company of Portugal.
This is the second stage of Operation Furaçao (hurricane) after the first in June 2013 which involved customers of Finibanco.
