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Joal Rendeiro Fugitive Portuguese banker dies in SA custody.

Rendeiro fled Portugal late last year after he was convicted of a string of charges. The charges were related to the collapse of the Portuguese Private Bank. He was arrested by Interpol.

Rendeiro’s arrest happened in Umhlanga Rocks, north of Durban. He was due to appear in court on Friday, 13 May, for an extradition hearing. He was found guilty of a number of charges including; document and computer forgery, breach of confidence, fraud, and money laundering.

All of the aforementioned charges are linked to the demise of the Portuguese Private Bank. He was given a combined total of over 18 years imprisonment. After which, Rendeiro fled Portugal.

Rendeiro’s lawyer, June Marks, confirmed his death to Reuters and told Publico newspaper he was found hanged in his cell.

South Africa’s department of correctional services said in a statement it had “urgently launched an investigation in determining the cause and circumstances leading to his death”.

So what did de Oliveira Rendeiro do?

He absconded from the Portuguese government and made a run to South Africa. He was convicted of multi-million dollar fraud and hit with a hefty prison sentence. Before he could start serving his time, he escaped.

During an Interpol General Assembly meeting in Turkey last month, SAPS Commissioner Khehla Sithole was informed that the fugitive was hiding out in KZN. Our authorities then promised their Portuguese counterparts that they would handle the situation.

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