Portugal's Judicial Police did more than 30 searches around the country on Wednesday as part of a corruption investigation. The case is about the sale of assets from Novo Banco, which came from the 2014 deal involving Banco Espírito Santo (BES).
The search involved over 100 officers and looked into the offices of Novo Banco, the KPMG consulting company, and several law firms.
The investigation focuses on the selling of valuable assets, especially real estate, which is said to have happened at lower prices than usual. It also points to favoritism, both personal and within organizations.
The investigation covers most of the time since Novo Banco was taken over, including when António Ramalho was the CEO and after the bank was sold to the American private equity firm Lone Star.
KPMG said their offices in Lisbon were searched, but they added that they are not being targeted and are working with the police as required.
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