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PJ and MP are investigating the correlation of the sale of Quinta do Arco with the direct adjustment of the International Business Center of Madeira to SDM where the Pestana Group increased its participation in the share capital.

The President of the Regional Government is unaware of the criminal proceeding under investigation in the Public Prosecutor’s Office in which he is indicted for corruption involving private real estate deals and the direct adjustment of the concession to private individuals in the Madeira Free Zone.

According to Saturday magazine, the chief of the Madeiran executive is one of the suspects in a corruption case. The case aims at evidence of crimes of economic participation in business and malfeasance, in addition to the possible violation of the Community rules on the award.

The investigation was opened in 2019 in Funchal, but the hierarchy of the Public Ministry, with the agreement of the Attorney General of the Republic, Lucília Gago, transferred the tutelage of the investigation to the Central Department of Investigation and Penal Action, in Lisbon.

At stake is the possible relationship between Miguel Albuquerque’s private real estate businesses and the direct adjustment of the concession of the Free Zone of Madeira to the Pestana Group, a matter that was made public in December 2019.

According to DIÁRIO, the chief of the Madeiran executive has not yet been notified of the accused in the scope of this process. Source of the cabinet of the Presidency of the Government of Madeira transmitted that the President of the Regional Government is calm about transactions that are of public knowledge and that the documents of deeds can be accessible to anyone, being that the whole process took place in an absolutely transparent way .

Read full article from Diário Notícias