Appeal court rules Ricardo Salgado must face trial
The Court of Appeal has ruled that former banker Ricardo Salgado must stand trial in the BESA case, rejecting defence requests to suspend or extinguish the proceedings on health grounds. Judges dismissed calls for a new medical examination and ordered the criminal process to continue, marking another defeat for Salgado’s defence team. The decision revives a high‑profile financial trial tied to the collapse of Banco Espírito Santo’s group entities; those tracking Portugal’s banking scandals and investor litigation should note the case will proceed to trial.
Ricardo Salgado is the former chairman and CEO of Banco Espírito Santo (BES), the bank that collapsed in 2014 and triggered one of Portugal’s largest financial scandals. He has faced multiple criminal charges including fraud and money laundering, and recent appeal-court rulings ordering a new trial—despite reports about his Alzheimer’s—are important for anyone following accountability in Portugal’s banking sector.
