Alexandre Fonseca, former CEO of Altice Portugal, has officially been named a defendant in Operation Picoas — a far-reaching investigation into alleged corruption, tax fraud, and money laundering involving the telecom giant. He confirmed on Facebook that he was heard by the Central Department of Investigation and Criminal Prosecution (DCIAP), stating that he welcomed the opportunity to clarify the facts.
The case centers on suspected irregularities in Altice’s contracting practices, allegedly orchestrated by co-founder Armando Pereira and his associate Hernâni Vaz Antunes. Authorities believe the scheme defrauded the Portuguese state and Altice of hundreds of millions of euros, including over €100 million in taxes. Investigators also cite the abuse of Madeira’s Free Trade Zone tax benefits and the use of offshore structures.
Fonseca, who led Altice Portugal from 2017 to 2022 and left the company in early 2024, said it was only natural he be involved in the investigation, given his former role. He emphasized his willingness to cooperate fully to help reach a fair resolution.
Alongside Fonseca, other defendants include Pereira, Hernâni Vaz Antunes, Jéssica Antunes, and Álvaro Gil Loureiro.
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