Former Altice CEO Alexandre Fonseca Named as Suspect in Corruption Probe

Alexandre Fonseca, the former CEO of Altice, has been named as a suspect in the ongoing Operation Picoas investigation. This case delves into allegations of private corruption and tax fraud linked to supplies and real estate deals involving assets formerly owned by Altice. The news was first reported by SIC and later confirmed by PÚBLICO.

During the summer of 2023, when Altice co-founder Armando Pereira was detained, the Central Department of Investigation and Penal Action (DCIAP) highlighted suspicions of biased decision-making within the telecommunications group's contracting processes. These practices allegedly harmed the group's own companies and undermined fair competition.

The investigation also points to potential tax evasion strategies, including the fictitious relocation of fiscal domiciles to exploit reduced corporate tax rates in Madeira's free trade zone.

Fonseca provided statements to the Public Prosecutor's Office in a hearing at the DCIAP, which has been adjourned to a later date. The probe reveals that Hernâni Antunes, a key figure accused of diverting at least €250 million from Altice Portugal, admitted to making payments to Fonseca. These transactions, allegedly facilitated through UAE-based companies against fake invoices, included €380,000 in 2018 and €110,000 in 2017.

Additionally, Fonseca is suspected of purchasing a villa valued at €1 million for merely €200,000 from a company linked to Antunes. As the leader during the period under investigation, Fonseca's role in approving contracts with Antunes' companies, commission payments, and property sales is under scrutiny.

The case, marked by its complexity, involves numerous shell companies worldwide and has reportedly cost the state approximately €100 million in lost tax revenue. Fonseca, asserting his innocence, vowed to clear his name, emphasizing his commitment to protecting his integrity and reputation.