Fugitive Portuguese banker arrested in South Africa

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A former Portuguese bank manager who disappeared to escape jail time for tax evasion and other crimes was captured three months after his disappearance, police said on Saturday.

Portuguese criminal investigation agency PJ said Joao Rendeiro, the former chairman of small private investment bank Banco Privado Português (BPP), has been arrested in South Africa.

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Portugal does not have an extradition treaty with South Africa, but there is a cooperation agreement between the two countries that would allow authorities to bring it back, PJ director Luis Neves said during ‘a press conference on Saturday.

Neves has not disclosed the exact location of Rendeiro’s arrest. He said Rendeiro spent time in luxury hotels in Johannesburg and other cities and used expensive communications technology to hide his location. Local media said he was arrested at a Durban hotel.

BPP collapsed in 2010, triggering investigations and lawsuits for tax evasion, forgery and money laundering. Rendeiro was convicted of 16 felonies in three separate cases, all related to the collapse of BPP.

Shortly after Rendeiro left Portugal in September, he wrote on his blog that he had no intention of returning and that his escape was an “act of self-defense” against what he described. like an unfair justice system.

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