Fugitive Portuguese Banker, Joao Manuel de Oliveira Rendeiro (69), who was found with three different passports, was yesterday denied bail in South Africa and will spend Christmas at Westville prison.
He was arrested in Umhlanga Rocks, north of Durban, KwaZulu-Natal last week. He will be back in court on 10 January 2022, when his extradition case will be heard.
Rendeiro absconded from Portugal after being convicted on a multi-million dollar fraud case and sentenced to 12 years imprisonment before he escaped.
On 24th November 2021, The Head of the Judicial Police of Portugal, Luis Neves brought this matter to the attention of National Commissioner of the SAPS, General Khehla John Sitole during a bilateral meeting at the 89th Interpol General Assembly in Istanbul, Turkey.
General Sitole committed to tracking and tracing the fugitive after it emerged that he may be hiding in South Africa.
Members from the Interpol NCB in Pretoria, acting on an Interpol Red Notice, traced the fugitive to a guest house in Umhlanga Rocks where he was arrested at 7am on 11 December 2021.
Rendeiro founded Banco Privado Portuguese, which collapsed in 2010, while owing its creditors over USD1, 5 Billion.
Rendeiro was in and out of court for the past 11 year.
In September, Rendeiro left Portugal for London. He the arrived in South Africa on 18 September. On 28 September, he wrote on his blog that he he was not going back to Portugal.
Rendeiro’s wife has been placed under house arrest after she auctioned some of the valuable paintings that were being kept at Rendeiro’s mansion against a preservation order.
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