Ricardo Salgado’s pension triples to 90 thousand euros a month

Only after NINE years, this former banker was finally accused of 65 crimes, namely criminal association, active corruption, document forgery, qualified fraud, money laundering, breach of trust and market manipulation, in which he caused losses of more than 11.8 billion euros (of what is known to the public). The overwhelming majority of this money belonged to individual depositors, companies, investors, creditors, etc., who from one day to the next found themselves bankrupt and their lives completely devastated, as was the case of a TV presenter who was robbed of 3 million euros of her life savings by this criminal (and was prevented by the Portuguese judge from pressing charges!!!).

It has to be said that this criminal’s almost incalculable wealth has never been seized to reimburse the countless victims, most of whom have had their lives completely devastated.

In any other country this criminal would be serving a life sentence and all his assets and money would have been confiscated and distributed to all the victims who were stolen.


As compensation for being such a good guy, the retirement pension of this criminal, former head of the Espírito Santo Group, was tripled: from 29 thousand euros to 90 thousand euros per month, and in the same situation as Salgado are another dozen former managers of the former Banco Espírito Santo.

Replacing the pensions of just 19 people from that wonderful bank will cost (only) 62 million euros. That is 3,263 million euros for each of them!

Obviously, since we are talking about Portugal, this criminal, who has a very luxurious “normal” life, has not yet suffered any legal consequences and nothing will happen to him! He is already saying that he has Alzheimer’s! Poor thing! Let’s all pray for him.

A country where the average monthly pension is 490.65 euros, but many people receive a change of 231.88 euros! Yet Ricardo Salgado, the CROOK, RECEIVES 90,000.00 Euros a month! A massive INSULT to the Portuguese people!

The following article is a translation. You can find the link to the original website at the end of it.

Reform goes from 29 thousand euros to 90 thousand euros per month, in November. And he is not the only former BES manager in these circumstances

It’s a TVI exclusive: the retirement pension of Ricardo Salgado, the former leader of the Espírito Santo group, will triple:

it will go from 29 thousand euros to 90 thousand euros per month, in November. And in the same circumstances as Salgado are another dozen former managers from the former Banco Espírito Santo.

The manager of the BES pension fund understands that the regulatory authority’s opinions point to the obligation to recalculate the pension value. And the replacement involves retroactive actions, starting from September of last year.

At that time, Vítor Bento, Ricardo Salgado’s successor as president of Novo Banco, put a cap on the retirements of former members of the executive committee from the last four years of BES’s life, under article 402 of the commercial companies code, which limits the value of pensions to the highest salary paid to a sitting director.

The pension fund management company referred the matter to the regulator. The response, dated August and signed by President José Almaça, states:

“Given the lack of legal basis for not guaranteeing the payment of benefits provided for in the current pension plan (…) we understand that there are no reasons to defer payment to former members of the BES executive committee”

Contacted by TVI, the regulator guarantees that the decision whether or not to pay pensions with the revised values is the sole responsibility of the pension management company.

If the opinion is fulfilled, only retroactively, Ricardo Salgado will receive 973 thousand euros.

And he is not the only one: there are a dozen former BES administrators in the same conditions. This is the case of José Manuel Espírito Santo, Rui Silveira, António Souto and José Freixa, who now receive pensions of between 43 thousand and 90 thousand euros. In the future, José Maria Ricciardi will also be one of the beneficiaries.

The same circumstances apply to the retirements of four former BES managers, integrated into the Novo Banco pension fund, including that of the widow of Mário Mosqueira do Amaral, a historical ally of the Espírito Santo clan.

Replacing the pensions of just 19 people will cost 62 million euros.

For now, the BES fund, which pays for Ricardo Salgado’s retirement, has sufficient financial capacity. But TVI confirmed that the future pensions of other former BES administrators are at risk.

A country where criminals and the powerful are systematically protected to the detriment of victims and its citizens is the definition of a dictatorship, which is why Portugal should leave the EU.


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