Searches in companies suspected of fraud against the Development Bank

The Judicial Police is conducting searches related to an alleged fraud case that reportedly caused around 20 million euros in damages to the Portuguese Development Bank. The main suspect is Paulo Caetano from the investment fund management company Quadrantis, which is co-owned by businessman João Koehler. Businessman João Henriques is also under investigation. The case involves funds that were supposed to finance companies applying for credit lines but ended up in the personal sphere of the managers. Suspected companies are located in Lisbon, Porto, and Santarém. The searches are being carried out by the National Anti-Corruption Unit of the PJ, with the case being investigated by the Central Department of Investigation and Penal Action.