Banco Privado Português (, lit. 'Portuguese Private Bank', abbr. BPP) was a Portuguese private bank based in Lisbon, founded by João Rendeiro. In 2010 it was declared bankrupt.
The BPP case
On 24 July 2009, Paulo Guichard and Salvador Fezas Vital, two former board committee members of BPP were suspended by Banco de Portugal, and joined João Rendeiro in the BPP case, to be indicted for falsifying accounts, tax crimes and money laundering.[1] On 15 April 2010, the Banco de Portugal, Portugal central bank, "after verifying the impossibility of recapitalization and recovery efforts of this institution", ordered the liquidation of the Banco Privado Português.[2]
On 11 October 2010, the Polícia Judiciária conducted searches at the homes of former officials of the BPP under the scope of an investigation into suspected money laundering and fraud.[3]