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Espirito Santo family patriarch detained over tax evasion claims
THE EX-BOSS of troubled Portuguese financial group Espirito Santo was arrested yesterday amid allegations of tax evasion and money laundering. Family patriarch Ricardo Espirito Santo Salgado, aged 70, was arrested the day after the bank’s offices were searched by the authorities. He resigned as chief executive of Banco Espirito Santo (BES) this month and the bank’s share price has plunged since the Portuguese authorities questioned its finances.