Salgado accused of bribing Minister

Disgraced banker, Ricardo Salgado, is formally to be charged with paying €500,000 to the then Minister of the Economy, Manuel Pinho.

The payment was in return for giving EDP cushy tax benefits of €1.2 billion, granted to the electricity company by the government when Pinho was a Minister.

Grupo Espírito Santo was shareholder in EDP and benefitted from the lax tax treatment.

Manuel Pinho received €1 million from Grupo Espírito Santo between 2006 and 2012, according to the Public Prosecutor, who suspects that Ricardo Salgado ordered the transfer of €500,000 to an offshore account controlled by Manuel Pinho.

The first tranche was transferred while Pinho was a Minister and the second €500,000 was sent after he had left government.

Also involved in this new case is António Mexia, EDP’s current chief executive.