Portuguese authorities are investigating over twenty individuals in connection with a real estate transaction involving Novo Banco, according to sources familiar with the investigation. The probe is focused on potential irregularities or misconduct related to the bank’s dealings in property assets.
This investigation marks the second such inquiry into Novo Banco within the current year, highlighting ongoing scrutiny of the institution’s financial activities. The details of the real estate deal under investigation have not been publicly disclosed, and it is unclear whether any individuals have been formally charged.
Novo Banco, which was established to manage lingering assets from the Banco Espírito Santo collapse, has been the subject of several regulatory and legal reviews. The latest investigation underscores continued concerns over governance and transparency issues linked to the bank’s operations.
Officials have not provided additional comment on the investigation. The case remains active, and authorities are expected to release further details as the process unfolds.