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Portuguese former minister charged with malfeasance, graft in golden visa scheme

Xinhua, November 18, 2015 Adjust font size:

Former Portuguese Interior Minister Miguel Macedo was charged on Tuesday by public prosecutors with three counts of malfeasance and one of graft, in an investigation into the government's golden visa scheme, according to Portuguese Lusa News Agency.

Former president of the Institute of Records and Notaries, (IRN) Antonio Figueiredo, former director of the Foreigners and Frontiers Services (SEF), Manuel Palos, and former secretary-general of the ministry of justice, Maria Antonia Anes, were also charged.

Eleven officials involved in the golden visa scheme were detained on suspicion of corruption, money-laundering and embezzlement in November last year.

Macedo resigned from his post on Nov. 17 and his immunity from prosecution was lifted in a parliamentary vote in July.

The golden visa scheme, started in 2012, gives wealthy investors the chance to reside in Portugal as well as visa-free travel in the Schengen zone if they invest one million euros (1.6 million U.S. dollars) in capital, purchase real estate worth 500,000 euros or create at least 10 jobs in the country.

A total of 2,621 visas have been issued since then and Chinese citizens make up the largest group of visas issued, totalling 2,087 visas.

The cumulative investment entering the country as a result is 1.588 billion euros, of which 1.435 billion was for investment in property.

In February this year, new rules allowed the government to issue golden visas in new fields such as urban rehabilitation, science and culture. However, it was suspended five months later due to a lack of regulation. The government resumed the issuance early September. Endit