Novo Banco denies selling properties “at a discount”, as it said in the statement sent to newsrooms earlier this week, but the investigation by the Público newspaper shows that some houses were sold at prices well below the assessment made by Finance.
It gives an example of a property in Ferreira do Zêzere, which the Tax Authority estimates at 36,000 euros but which the institution led by António Ramalho sold for 2,145 euros.
According to the Expresso newspaper, the Resolution Fund gave the green light to operations that generated losses. Of the 194 transactions proposed by Novo Banco until March, the Fund opposed only 12%.
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