Title: Portuguese Public Prosecutor Uncovers Nine Financial Crime Cases, Estimated Damage Reaches €158.2M

Overview

Portugal’s financial crime investigation unit, in collaboration with Europol, has discovered nine separate cases of financial fraud. The total estimated damage from all cases amounts to €158.2 million.

Major Cases

Two of the cases, with damages exceeding €30 million, were uncovered with Europol’s European Financial and Economic Crime Centre (EFECC) assistance:

• *Money laundering through complex investment schemes

Ongoing Investigations

The Portuguese investigation team has identified suspects, executed search warrants, and seized assets and evidence relevant to the cases. Arrest warrants have been issued for several individuals, some of whom have fled the country.

Europol’s Support

Europol’s Executive Director, Catherine De Bolle, expressed her full support for the investigation:

These financial crime cases represent a significant threat to the European financial system. Cooperation between Europol and its member states is vital in tackling such transnational crimes.

International Collaboration

Involves numerous financial institutions, both domestic and international, emphasizing the importance of international cooperation in the fight against financial crimes.

EU’s Commitment

The European Union’s Justice Commissioner, Didier Reynders, highlighted the investigation’s significance:

The European Union is fully committed to combating financial crimes. The successful cooperation between Portuguese authorities and Europol showcases the value of effective cross-border collaboration in uncovering and pursuing these complex cases.