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Altice: suspicions of corruption on his right arm which put Patrick Drahi in turmoil
Altice: suspicions of corruption on his right arm which put Patrick Drahi in turmoil
(ADDITIONAL INVESTIGATION / FRANCE 2)
This is the last of the storms that hit Patrick Drahi. His former right-hand man is accused of corruption, suspected of having benefited from the generosity of several subcontractors of the Altice group in Portugal. Patrick Drahi says he is betrayed by his former loyal lieutenant, who denies all the accusations made against him in this extract from “Additional investigation”.
It’s a shock wave which shakes the entire Altice group, and the latest episode in the turmoil that has befallen its CEO, Patrick Drahi. On July 13, Armando Pereira, his long-time right-hand man for everything relating to telecoms, is arrested by the Portuguese police. Business man is indicted, his helicopter and his cars are seized, searches are carried out across the country on company executives.
What is Armando Pereira accused of? He is suspected of having participated in a corruption system consisting of favoring certain service providers in exchange for money, to the detriment of the Altice group in Portugal. According to court documents that “Complément d’investigation” was able to consult, the contracts which would have been illegally awarded represent “a total volume of around 660 million euros”.
The Altice group has filed a civil suit, but this case puts Patrick Drahi in a delicate position. Could he have ignored these alleged embezzlements? During a meeting with financial analysts in August 2023, which was captured by “Complement d’investigation”, he let go of his former right-hand man. Speaking of “shock” and D“huge disappointment”, saying to himself “betrayed”, he claims to discover the actions which are alleged against his long-time associate and partner.
“Additional investigation” traveled to the north of Portugal, where Armando Pereira lives. Journalists rang the doorbell of his villa in vain, but managed to speak to him on the phone.
Armando Pereira denies all accusations. According to him, the companies he is accused of having favored had worked for Altice for several years. “I have money, I have enough, why would I want more ??”, he adds, before appealing to justice.
Questioned about this matter, the Altice group responded by email to “Further investigation”. He indicates “to be considered by the Portuguese justice system as a victim of these fraudulent actions, and to take all legal steps to assert his rights”.
Last September, the National Financial Prosecutor’s Office in turn opened a preliminary investigation for corruption, this time concerning Altice’s activities in France.
Excerpt from “Patrick Drahi, the man who owed 50 billion”, a document published in “Additional investigation” on June 20, 2024.