Portugal Telecom’s former board members Zeinal Bava, Henrique Granadeiro, Luís Pacheco de Melo and Amílcar Morais Pires face fines of up to €5 million for lying to the Stock Market Commission (CMVM) and misleading investors.
The CMVM, led by Carlos Tavares, has been keen to establish who was been responsible since 2012 for dishing out massive loans to the Grupo Espírito Santo (GES) subsidiary Rioforte.