Key people João Rendeiro Ceased operations 2010 | Defunct 2010 Website BPP Homepage Founded 1996 | |
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Products Financial ServicesInvestment BankingInvestment management | ||
Banco Privado Português (BPP) was a private Portuguese bank, based in Lisbon.
Founded by João Rendeiro it's currently in liquidation.
On 24 July 2009, Paulo Guichard and Salvador Fezas Vital, two former board committee members of BPP were suspended by Banco de Portugal, and joined João Rendeiro in the BPP case, to be indicted for falsifying accounts, tax crimes and money laundering.
On 15 April 2010, the Banco de Portugal, Portugal central bank, "after verifying the impossibility of recapitalization and recovery efforts of this institution", ordered the liquidation of the Banco Privado Português.
On 11 October 2010, the Polícia Judiciária conducted searches at the homes of former officials of the BPP under the scope of an investigation into suspected money laundering and fraud.
On 11 February 2013, João Rendeiro, Fezas Vital and Paul Guichard, former members of the board committee were charged by the Public Ministry with fraud, in a matter of a Collective investment scheme that damaged hundreds of clients for an estimated 41 million euros. In May 2015, assets from João Rendeiro were seized to pay a 4.7 million euro fine from the Bank of Portugal.