Alexander Fonseca suspends the executive functions of the Altice Group

Altice announced this Monday that co-CEO Alexander Fonseca has suspended his duties in the group’s executive and non-executive management activities in several regions, including “chairman” positions in several branches.

In a statement, “Altice Group announces that its current co-CEO, Alexander Fonseca, has informed the group that he has initiated the suspension of his functions in the executive and non-executive business activities of running the group across multiple geography, including the position of ‘chairman’ across multiple branches.” , following an investigation by the Main Directorate of the Investigative and Executive System (GUSIN) MP.

With this decision, Alexandre Fonseca “clearly intends to defend the interests of the Altice group and all of its brands in a public process that appears to be charged with actions subject to investigation that occurred during the period when he served as executive president. , from Altice Portugal,” says the band.

“This position of Alexander Fonseca is contextualized in a responsible act on the path to full truth-clarification,” he adds.

“This is a decision that the Altice Group accepts and appreciates as it helps protect its business activities and promotes the principles of transparency and unambiguous fact-finding cooperation,” concludes the group that owns Altice Portugal. , owner Meo.

Alexandre Fonseca stepped down as Executive President of Altice Portugal last April, taking on international executive responsibilities for the group, as well as the position of “Chairman” of the Portuguese subsidiary.

The operation launched on Thursday resulted in three arrests and included about 90 home and non-domestic searches, including office and office premises of lawyers in various districts of the city, according to the Deputy’s Main Directorate for Investigation and Execution of Sentences (VDRUI). a country.

Allegedly at stake is “the failure of Altice’s decision-making process in terms of hiring, harmful practices of the group’s companies and competition”, pointing to active and passive private corruption. . The authorities also indicate that at the fiscal level, the state will be deceived in the amount of “more than 100 million euros.”

The investigation also points to evidence of “abuse of preferential taxation applied at the headquarters of the IRC in the Free Zone of Madeira” through fictitious tax domiciliation of people and companies. The State Department understands that offshore companies have also been used for money laundering and counterfeiting charges.

During the searches, the DCIAP found that documents and items were seized, “such as luxury cars and exclusive models, with an estimated value of around 20 million euros.”