A Ruína do BES

Overview

Between 2008 and 2014, as the accounts were being doctored, Ricardo Salgado risked everything: international credit, clients' money, political influence, friends, etc. One day, the end came. The Espírito Santo family survived the fall of the monarchy, lived and prospered under the dictatorship. They were expelled and nationalized following the Carnation Revolution, but returned in the 80s. They bought back their bank and became the largest and most international Portuguese group.