LISBON: The former head of Portugal’s crisis-hit Banco Espirito Santo, Ricardo Salgado, facing fraud and money-laundering charges, posted bail of three million euros ($4 million) on Tuesday (Wednesday in Manila), according to local media.
The reports came two days after the Portuguese government announced it would intervene to salvage the ailing bank, narrowly averting a national disaster and a fresh eurozone crisis by launching a new bank as part of a rescue totally nearly 5.0 billion euros.
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