BES. Morais Pires reveals secret guarantee without providing evidence

During the trial regarding the BES case, Morais Pires revealed that Espírito Santo Financial Group (ESFG) allegedly guaranteed certain financial vehicles sold to clients, which were used to cover hidden debts of the Espírito Santo Group (GES). He claimed that if these vehicles defaulted, ESFG would ensure client reimbursements. However, he failed to provide written evidence of this guarantee. Pires also discussed decision-making processes at BES and expressed frustration about being the only administrator on trial. He acknowledged that the financial vehicles were indeed part of BES's operations, but maintained that he was not responsible for the decisions made regarding them. The prosecution's concerns about contingent liabilities and the lack of formal documentation were highlighted during the proceedings.