Those who bought assets that Novo Banco sold at deep discounts, including real estate, managed to obtain”capital gains equal to or greater than 60%“, emphasizes the Court of Accounts in the audit of the management of Novo Banco disclosed this Tuesday. These high discounts at which the assets were disposed of generated losses that were later imposed on taxpayers, in a mechanism that the Court of Auditors considers “did not safeguard” the public interest -and the story may not have ended here.
The considerations are in the second phase of the audit of Novo Banco (NB) that was requested by the Assembly of the Republic and that, this year, tried to understand “if the management of Novo Banco with public funds safeguarded the public interest.” A The conclusions are devastating for the administration still led by António Ramalhoalthough it is also stated that the problem began early due to the way in which the institution was sold.
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Source: Observadora
