Published by Algarve Daily News
Banco Português de Negócios (BPN), was the bank that the government controversially bailed out in 2008 after reckless management and malpractice has created an initial debt of €1.8 billion.José Oliveira e Costa, the former President of BPN is the man held mainly responsible for the financial scandal that resulted in the bank being sold off to the Angola’s Banco BIC for €40 million in 2011.
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