José Berardo

On 29 June 2021, the Polícia Judiciária conducted 51 searches of homes, businesses, banks and a law firm, and arrested Joe Berardo. The announced suspicions included aggravated fraud (burla qualificada), tax fraud, money laundering, breach of trust and harmful management.

State of the evidence

arrest, 51 searches, questioning and coercive measures documented

Legal status — source text

Berardo is a formally designated suspect (arguido); €5 million bail and other measures imposed; the main investigation remained in the investigative phase in March 2026

Attribution

direct personal implication; no final conviction

In 2022, the government decided to dissolve the Fundação José Berardo on the grounds that its actual activities no longer sufficiently corresponded to its public-benefit purposes. An initial court decision favoured the foundation, but the Supreme Administrative Court ultimately upheld its dissolution in 2026.

State of the evidence

dissolution order and successive court decisions documented

Legal status — source text

Funchal Administrative Court initially annulled the dissolution; the Supreme Administrative Court subsequently upheld it in 2026; constitutional appeal lodged

Attribution

Berardo is the founder and a directly interested party

In a case separated from Processo Berardo, the Public Prosecutor's Office alleges that an arrangement created approximately five million euros in artificial tax losses, allowing the avoidance of around 140,358 euros in corporate income tax (IRC) linked in particular to Monte Palace's activities.

State of the evidence

official charges by the Ministério Público documented

Legal status — source text

charges filed on 6 March 2026 against four individuals and one entity; no final conviction

Attribution

Berardo personally charged; presumption of innocence

The Ministério Público accuses Berardo and other defendants of using an allegedly sham civil action and changes in control of the association to prevent CGD, BCP and BES/Novo Banco from accessing the shares and assets securing nearly one billion euros in loans.

State of the evidence

changes in control/capital, alleged sham action and formal charges by the Public Prosecutor's Office documented

Legal status — source text

charges filed in July 2025 against Berardo, two lawyers and Associação Coleção Berardo; no final conviction as at 30 August 2026

Attribution

Berardo personally charged; presumption of innocence

In May 2022, Berardo and entities in his group claimed approximately 900 million euros in damages from BCP, CGD and BES/Novo Banco, alleging, among other things, that the banks had failed to explain certain risks properly and that he had been harmed by their conduct.

State of the evidence

civil action filed and amounts claimed documented

Legal status — source text

action filed against BCP, CGD and BES/Novo Banco; final outcome not verified

Attribution

Berardo is the claimant, not the accused, in this case

Following seizure of the collection and uncertainty over its future ownership, the state terminated the agreement allowing its display at the CCB. Berardo sought to prevent the arrangement ending through an interim injunction (providência cautelar), which was rejected at first instance.

State of the evidence

government termination, interim application and appeal documented

Legal status — source text

application for interim relief dismissed at first instance; Berardo/the association appealed

Attribution

Berardo is directly involved in the contractual dispute through his association

Before the CGD parliamentary inquiry committee, Berardo stated, among other things, that he had no personal debts and laughed repeatedly, causing considerable outrage. He subsequently acknowledged that he had 'excedido', given impulsive and insufficiently considered answers, and apologised.

State of the evidence

hearing, apology and disciplinary proceedings documented

Legal status — source text

no criminal conviction; proceedings concerning honours delayed/suspended during the pandemic, with no definitive withdrawal verified

Attribution

personal responsibility for his conduct and statements

CGD, BCP and Novo Banco initiated recovery proceedings concerning approximately 962 million euros. Thousands of artworks, including approximately 862 displayed at the CCB and more than a thousand elsewhere, as well as Lisbon apartments and Monte Palace, were subject to seizures or freezing orders (arrestos).

State of the evidence

enforcement actions and court-ordered seizures documented

Legal status — source text

civil protective/enforcement measures; they do not constitute a criminal conviction

Attribution

assets of entities controlled by or linked to Berardo seized to secure bank claims

Entities in the Berardo group obtained four financing facilities from CGD between 2006 and 2009, totalling approximately 439 million euros. Including exposures to BCP and BES/Novo Banco, disputed claims subsequently approached one billion euros.

State of the evidence

loan amounts and recovery actions documented

Legal status — source text

civil litigation and related investigations; no personal criminal conviction based solely on the initial granting of credit

Attribution

debtor/guarantor responsibility through his entities; the bank's lending procedures remain distinct from his personal liability

Francisco Louçã cited Quinta da Rocha as an example of property speculation, claiming Berardo had bought approximately 200 hectares for around 500,000 euros and then sold the site for nearly 15 million euros following disputed changes to its property registration.

State of the evidence

purchase, resale and public allegations documented

Legal status — source text

no personal conviction of Berardo verified

Attribution

direct responsibility as owner/seller; illegality not established

In 1992, the Ministério Público sought to have the statutes and founding instrument of the Fundação José Berardo declared null, arguing that certain provisions allowed tax avoidance or fraud. The proceedings were largely favourable to Berardo; only one provision was removed.

State of the evidence

action by the Ministério Público seeking annulment of the founding instrument and statutory clauses documented

Legal status — source text

historic litigation; sources found indicate that the action did not result in complete annulment of the foundation; no personal criminal conviction of Berardo established

Attribution

Berardo was the founder and institutional beneficiary of the disputed arrangement; tax fraud was the Public Prosecutor's Office's argument at the time

Specialist sources reported that authorisation had been granted to Joe Berardo to export several hundred wild cycads, highly protected species listed under CITES, to Madeira, prompting a South African investigation into illegal trade and possible political pressure.

State of the evidence

controversial export and opening of a South African government investigation documented; figures differ between sources

Legal status — source text

no personal criminal conviction of Berardo verified in the sources retained

Attribution

Berardo directly linked to the disputed import/export; allegations of political pressure not presented as judicially established