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Former Portugal PM Sócrates to stand trial for money laundering as judge drops corruption charges in surprise move

Premium April 13, 2021

The prosecution accused Sócrates of taking €34m from three companies while he was in power between 2005 and 2011, an accusation he has denied and labelled as politically motivated. In total, the prosecution accused 19 people and nine companies of 189 crimes | Image by José Goulão

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By Vish Gain for AMLi

A court in Lisbon has announced that former Portuguese prime minister José Sócrates will stand trial to charges of money laundering and falsifying documents, seven years after he was arrested in a €34 million corruption scandal that rocked the country.

However, the court surprised people in a publicly televised reading of the decision by dropping corruption charges on him, a big blow to the prosecutors.

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INSIGHT: We asked four world-leading financial crime experts who should be AMLA chair – here’s what they said

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NEWS: Canada’s TD Bank names insider Michelle Myers as global chief auditor amid regulatory glare

 Premium

NEWS: Gazprombank, third largest lender in Russia, among 50 banks hit with new US sanctions

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