Former chair of the Portuguese Private Bank, Joao Rendeiro, fled his residence nation late final yr after he was convicted of a string of graft prices associated to the collapse of the financial institution. He was subsequently arrested by Interpol in Umhlanga Rocks, north of Durban.
JOHANNESBURG – A high-ranking Portuguese banker-cum-fugitive fraudster who was arrested in South Africa late final yr, has died in custody earlier than he may very well be extradited.
Former chair of the Portuguese Private Bank, Joao Rendeiro, fled his residence nation late final yr after he was convicted of a string of graft prices associated to the collapse of the financial institution.
He was subsequently arrested by Interpol in Umhlanga Rocks, north of Durban, and was resulting from seem in courtroom on Friday for an extradition listening to.
Rendeiro was discovered responsible of a raft of prices, together with laptop and doc forgery, fraud, breach of confidence and cash laundering, all linked to the collapse of the Portuguese Private Bank.
He was slapped with a mixed whole of greater than 18 years behind bars and in opposition to this backdrop fled Portugal in September.
He was arrested two months later and had been in custody at Westville Prison since then.
Correctional Services spokesperson Singabakho Nxumalo on Friday morning confirmed that Rendeiro had died in custody.
He mentioned that an investigation had been launched to find out the explanation for and circumstances resulting in his loss of life.
Top Portuguese banker on the run for fraud dies in SA custody & More Latest News Update
Top Portuguese banker on the run for fraud dies in SA custody & More Live News
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Top Portuguese banker on the run for fraud dies in SA custody & More News Today
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