Connect with us

Economy

Vieira tosses debts to CGD taxpayers

Published

on

Vieira tosses debts to CGD taxpayers


Luis Filipe Vieira undertook a series of banking maneuvers to pay off a debt to Caixa Geral de Depósitos (CGD) of more than € 30 million, with the result that these costs were included in the losses of the state bank and the Fund for Bank Settlement (FdR) In other words, to a greater extent for taxpayers – this is another of the conclusions to which the People’s Deputy made an operation on a “red card”.

It all started almost ten years ago when Votion – Investimentos Imobiliários, SGPS, one of the companies in the construction group Promolavor, which is owned by the President of Benfica – faced the need to pay CGD an accumulated debt of 31 million euros. to liquidate which the state bank was pressured by the demands of austerity and financial recovery, imposed at the time by the troika, which had just landed in Portugal.

Thanks to the trusting relationship he established with Ricardo Salgado, on December 28, 2012, Luis Filipe Vieira was able to obtain a loan of 7 million euros.

The loan was obtained as a result of the entry into the market of Imosteps, another founder of the company aiming to invest in Brazil, in Opway, the construction company Espírito Santo Group (GES), also led by Salgado, an operation in which BES was also financing the Vieira group. In fact, on the same day President Benfica received a personal loan, BES also funded Imosteps to invest in Brazil in the amount of EUR 34.5 million – the first of several loan tranches that the company was to receive in the following months from a bank in Salgado.

See also  It’s goodbye for Stein Mart, the Florida retailer will shut each and every retail store

From his personal loan, Vieira transferred 6.5 million euros to Votion’s accounts to pay this amount to CGD. With regard to the remainder of Votion’s debt to the state bank in the amount of 24.5 million euros, the Benfica leader transferred to Caixa 50% of Fundo Imobiliário Fechado Real Estate in its corporate environment, estimated precisely at this amount.

As of December 31, 2012, the equity value of this fund was estimated at 51.5 million euros, so by owning half (25.75 million euros), CGD even seems to have struck a good deal with an immediate profit of 1.25 million. Euro. The problem is that the Real Estate Fund had a negative record as it had accumulated losses of 38.32 million euros at the end of that year. And this path continued in the same direction, presenting the fund at the time of the last financial statements published on December 31, 2019, with a loss of 85.8 million euros. This means that at the moment, when the property is in the liquidation stage, CGD risks losing close to the amount of 24.5 million euros that Vieira wrote off with a donation of half of the fund. The losses, which will be supported by the recapitalization of Caixa in recent years, comes in part from public funds.

The amount of loans provided by BES Imosteps reached 54.3 million euros in just over a year and a half, with the last of the five tranches of 8 million euros being disbursed in July 2014, just two weeks before the Passos Coelho government’s decision. for the bank’s decision (due to Ricardo Salgado’s inability to free his accounts from the Reds), which led to the birth of Novo Banco, to which Vieira’s debt was transferred.

See also  Trump Says Coronavirus Vaccine May Be Delivering Soon: 'A Very Big Surprise Could Be Waiting For You'

However, a few days before the disappearance of BES, the President of Benfica used the last loan provided by Imosteps to put this money into his personal account and still manage to pay off the debt he took in December 2012 with the bank in Salgado, which for this time, taking into account accrued interest, reached 7.7 million euros.

Thus, Vieira’s debt to BES no longer belonged to him and amounted to more than 54 million euros, which Imosteps received on a loan from the same institution and which were transferred to Novo Banco.

This was the very debt that President Benfica, through behind-the-scenes maneuvers and with the help of his friend José António dos Santos (known as the “ King of Chicks ”) as a frontman, had to manage in last August in order to return to his personal financial the sphere, paying only 9 million euros (about one-sixth of the amount), after Novo Banco decided to sell a portfolio of loans considered bad (including Vieira).

The operation, whose large losses were largely attributed to Novo Banco FdR (a financial mechanism introduced by the troika and created by banks, including CGD, to respond to crisis situations in one of them), was viewed by the Ministry of Public Administration as a fraud. to the same fund (which is financed from the state budget), so this was one of the reasons why the authorities launched Operation Red Card last week, which resulted in the temporary detention of Vieira, his son Thiago Vieira (member of the Votion board), Jose Antonio dos Santos and lawyer and sports entrepreneur Bruno Macedo.

See also  Arrival car: An electric vehicle designed for Uber drivers.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

Published

on

Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

Continue Reading

Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

Published

on

The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

Continue Reading

Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

Published

on

Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

See also  The government will extend the tax cut on fuel. View new values
Continue Reading

Trending