The Portuguese Judicial Police's ongoing investigation into the Altice group has now led to actions in France. On Tuesday, over 70 French investigators did searches at 15 homes and 14 businesses across various areas. They seized over €14 million from bank accounts, plus cars and luxury goods, according to French financial prosecutor Jean-François Bohnert.
This investigation comes from Operation Picoas in Portugal, which started in summer 2023. It led to the arrest of Altice co-founder Armando Pereira, a close friend of the group’s main shareholder, Patrick Drahi. French officials are looking into a case of private corruption, organized fraud, and money laundering. Allegedly, shell companies were used to inflate service prices and move funds through France and other countries.
Coordinated with Eurojust, this cross-border operation had Portuguese and French authorities working together. It shows how far the Altice investigation goes, reaching Paris, Corsica, plus areas like Var and Vosges. The goal is to find proof of possible financial crimes that affect both the French government and Altice.
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