Portugal’s Ex-Economy Minister Pinho Placed Under House Arrest

(Bloomberg) -- Manuel Pinho, a former Portuguese economy minister embroiled in a corruption probe, was placed under house arrest until he is able to pay a 6 million-euro ($6.8 million) bail.

Pinho was detained on Tuesday in an investigation concerning alleged corruption linked to energy company EDP-Energias de Portugal SA, his lawyer, Ricardo Sa Fernandes, said. Pinho’s wife Alexandra was ordered to pay a 1-million-euro bail. 

Pinho, who was economy minister between 2005 and 2009, has always denied any wrongdoing. He was a minister in a government led by former Prime Minister Jose Socrates, who is being accused of dozens of crimes, including money laundering and passive corruption. Socrates is currently awaiting trial in Portugal.

In 2017, former EDP chief executive Antonio Mexia and the former CEO of subsidiary EDP Renovaveis, Joao Manso Neto, were named suspects in a corruption case that involved Pinho. 

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