Police raid offices of Banco Espirito Santo in Spain

2nd November 2006, Comments 0 comments

2 November 2006, MADRID — Police raid offices of Banco Espirito Santo in Madrid, Barcelona.

2 November 2006

MADRID — Police raid offices of Banco Espirito Santo in Madrid, Barcelona.

Reports said the raids, carried out by Civil Guard wearing jackets marked with the Tax Agency, began at 10am.

The reason for the police raids has not been disclosed.

Employees of the bank were asked to leave the buildings.

The bank, which is part of the Grupo Banco Espirito Santo, was formed in Portugal in 1869.

The bank was nationalised in 1975, then in 1992 the Espirito Santo family re-took control of the group and re-launched it as an international company.

The Grupo Banco Espirito Santo is listed on the stock exchanges of New York and  London, and the Banco Espirito Santo is listed on the Lisbon and London stock exchanges.

[Copyright EFE with Expatica]

Subject: Spanish news 

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