Portugal's attorney general's office says prosecutors investigating a suspected tax fraud and money-laundering conspiracy have detained the former head of the country's largest bank.
The office said in a statement Thursday that Ricardo Salgado, who stood down earlier this month as chief executive of troubled Banco Espirito Santo, would appear before an investigating magistrate. It gave no further details.
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Salgado is a prominent member of the wealthy and influential Espirito Santo family, which has run a Portuguese banking dynasty since the 19th century. He led Banco Espirito Santo, which stands at the center of the family's tourism-to-health care business empire, for more than 20 years.
Salgado left the job after accounting irregularities emerged at a key Espirito Santo holding company and amid accusations of lack of transparency.