The Judicial Police conducted searches of companies on suspicion of fraud to the Fomento Bank in the use of public funds, according to sources from PJ and Banco Português de Fomento. The case involves companies linked to manager Paulo Caetano and is being investigated by the authorities.
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10/11/2026
by
Lusa
Judicial Police
A Judicial Police today made several searches for companies for suspected fraud to the Fomento Bank in the use of public funds, according to sources from PJ and Banco Português de Fomento.
Today, the press reported searches related to an alleged fraud to Banco Português de Fomento (BPF), confirmed to Lusa by PJ source. These are companies linked to manager Paulo Caetano.
In a statement released today, the BPF clarified that “it was not the target of searches or any diligence by the authorities” and added that it has been collaborating with the authorities to establish what happened.
The Fomento Bank says that in 2020 it began “cooperation with competent entities in the context of the evaluation of potential fraud situations in the use of public funds” and in 2023 began “collaboration with other authorities” to whom it is “giving all the information and support necessary for the clearance of the facts”.
According to BPF, the case has to do with investments made with companies whose actual beneficiary or manager is or was Paulo Caetano and that “remount to periods prior to the constitution of the BPF, between 2010 and beginning 2022, within the Refundable Financing Line and the Finance Line for Operations, lines of the FINOVA, Risk Capital Financing Line and the Financing Line for Business Angels Vehicle Entity, lines of the Capital Fund and Almost Capital (FCQC)”.
The Development Bank concludes the note that it will always be available to support any necessary research and clarifications.