BES posts €3.6bn loss, is resolved; prosecutors cite €11.8bn of losses
Banco Espirito Santo S.A. (BES) and Espirito Santo Group · Bank and family holding group
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Ownership / related-party links
Would have mapped bank exposure to Espirito Santo group entities.
Can mislead when: Nominee directors and offshore layers hide links. Name matching throws up false positives, so every flag shows its evidence path.
End-use tracing of funds
Would have followed funds sold to clients and raised by the group to end use.
Can mislead when: Kubr sees only the company's own accounts. Once money reaches a third party's bank, Kubr can flag the payee but cannot see the next hop without that party's consent.
Third-party confirmation
Would have confirmed group debt with creditors.
Can mislead when: Counterparties can collude or ignore requests. A non-response is logged as a gap, never as a pass.
Governance signals
Would have flagged the concentrated family control.
Can mislead when: Private companies file late, so these signals are lagging. Kubr uses them to support other flags, not to prove anything alone.
Where Kubr services would have helped
Borrower monitor
Offered in India- C3 Would have mapped bank exposure to Espirito Santo group entities.
- C6 Would have followed funds sold to clients and raised by the group to end use.
- C11 Would have flagged the concentrated family control.
Verified Snapshot
Offered in India- C3 Would have mapped bank exposure to Espirito Santo group entities.
- C11 Would have flagged the concentrated family control.
Legal diligence support
Offered in India- C3 Would have mapped bank exposure to Espirito Santo group entities.
- C11 Would have flagged the concentrated family control.
Promoter profiles
Offered in India- C3 Would have mapped bank exposure to Espirito Santo group entities.
- C11 Would have flagged the concentrated family control.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.