SEC
Whistleblower
Advocates

September 13, 2016

Pharol SGPS, S.A. (f/k/a/ Portugal Telecom, SGPS, S.A.)

Financial Fraud

SANCTION AMOUNT: $1,250,000

Defendants: Pharol SGPS, S.A. (f/k/a/ Portugal Telecom, SGPS, S.A.)

Settlement of allegations that Respondent, a Portuguese-based telecommunications company, failed to properly disclose the nature and extent of credit risk involved in its investments in debt instruments issued by companies of Portuguese conglomerate Grupo Espirito Santo.

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