João Rendeiro
João Rendeiro | |
|---|---|
| Born | May 22, 1952 Lisbon, Portugal |
| Died | May 13, 2022 (aged 69) |
| Occupation(s) | Entrepreneur, banker, academic |
| Known for | Founder of Banco Privado Português (BPP) |
João Manuel Oliveira Rendeiro (22 May 1952 – 13 May 2022) was a notable Portuguese entrepreneur, banker, and academic. He was the founder of Banco Privado Português (BPP).
Biography
Rendeiro was born in Lisbon to parents who owned a shoe store and hailed from Murtosa. He pursued economics at the Instituto Superior de Economia e Gestão (ISEG) within the Technical University of Lisbon and obtained his doctorate from the University of Sussex. During his academic career, he co-founded the mineral sparkling water brand Frize in 1994, which was eventually acquired by Sumol + Compal.
His reputation rose significantly after establishing BPP in 1996, a bank that grew rapidly until its downfall in 2008, leading to liquidation. After the bank's failure, Rendeiro and other executives were indicted on charges including account falsification, money laundering, and tax offenses. He consistently denied awareness of any wrongdoing.
In 2013, authorities charged him with fraud connected to investment fund administration. He later received convictions for computer and document forgery in 2018; breach of trust, money laundering, and tax fraud in 2021; as well as a three-year fraud sentence in the same year. Following these rulings, Rendeiro absconded from Portugal through London to evade incarceration. His spouse, Maria de Jesus Rendeiro, stayed in Portugal and was subjected to house arrest.
In December 2021, Rendeiro was apprehended in South Africa. The Lisbon Court of Appeal confirmed his ten-year prison sentence in February 2022. By May 2022, his extradition to Portugal awaited a judicial decision expected in June 2022.
Death
While incarcerated at Westville Prison in KwaZulu-Natal, he died by suicide through hanging in May 2022.