Luis Filipe Vieira, CEO of the Portuguese club Benfica, and José dos Santos, a shareholder in the club, were arrested on Wednesday.
Portuguese Society Benfica’s long-term CEO and influential in the real estate industry Luis Filipe Vieira has been arrested on suspicion of fraud, local news agency AFP reports.
According to the Portuguese authorities, four people have been arrested for questioning.
Portugal Resident says Vieira ‘s son is also in custody Tiago Vieira, sports promoter Bruno Macedo as well as a multimillionaire and a shareholder in Benfica José dos Santos.
Vieira’s home, office and Novo Banco Bank have been searched as part of an investigation into suspected financial fraud.
In its statement, the Portuguese Public Prosecutor’s Office stated that they were investigating “transactions and financing of more than € 100 million, which may have caused heavy losses to the state and some companies”.
Investigation extends until 2014. In addition to fraud, possible criminal items include money laundering.
In November, the prosecution carried out several raids, some of them on Benfica’s premises.
Prosecutors said they were investigating “a number of cases, all related to professional football”, adding that they related to sports and funding partnerships, players’ sports rights acquired by clubs and “loans agreed with a Singaporean citizen”.