Espirito Santo Ex-CEO Salgado May Avoid Prison Over Alzheimer’s

Former Banco Espírito Santo Chief Executive Officer Ricardo Salgado may avoid jail time after Portuguese prosecutors asked a judge to suspend prison sentences tied to his prior convictions.

Salgado, whose family controlled what was once Portugal’s largest listed bank, should receive a suspended jail sentence of 10 to 11 years, prosecutor Rui Batista said in court on Tuesday, according to state broadcaster RTP. The 81-year-old suffers from Alzheimer’s disease and is unable to comprehend the punishment, the prosecutor said.

A group of judges is scheduled to make a final decision on June 2, according to RTP.

Salgado led Banco Espírito ...