The missing banker accused of diverting at least €20 million of clients’ funds to feed her gambling addiction, has been arrested in Lisbon.
Ana Mafalda Carvalho Spinola Prazeres was detained by the Judicial Police and was up before a judge on Saturday on charges of fraud, breach of trust and falsifying documents.
The personal banker was allowed home under controlled circumstances and is banned from contacting others involved in the Ponzi scheme that relived her well off clients of their savings.
Banco Best is owned by Novo Banco which has not commented on the scam despite well connected families losing upwards of €5 million.
Banco Best's management continues to claim that it is not to blame for Sra Prazeres actions as the bank acted on their clients’ instructions when transferring large sums, supposedly to buy shares in an insurance company and to buy foreign currency. The money was diverted to Prazeres account and spent in local casinos where she had become a popular figure.
Banco Best also issued several credit cards without its customers’ knowledge, cards which were used by Prazeres.
According to a source at the Judicial Police, the investigation will continue, with "a strong possibility that the total damage caused to customers will prove to be higher than €20 million since the number of victims is increasing."
Prazeres received hospital treatment for a stress related illness and went to ground, abandoning her office and failing to answer calls from her now worried customers who had been used to receiving up to 10% interest a month on high yielding accounts which turned out to be fictitious.
One family from Sintra, rich from construction, hotels and transport, is said to have lost €5 million.
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See also 'Ponzi scheme nets €20 million for runaway banker'
http://www.algarvedailynews.com/news/8613-ponzi-scheme-nets-20-million-for-runaway-banker
