Altice Co-Founder Has Finished Testifying in Corruption Probe

Armando Pereira,the co-founder and former chief operating officer of telecommunications group Altice, finished testifying on Thursday after being detained in Portugal as part of a sweeping investigation into alleged corruption.

Pereira will remain in custody at least until Monday or Tuesday pending a decision from the judge, Pedro Marinho Falcao, one of his lawyers, told Bloomberg News. Pereira was one of three people detained after police carried out 90 searches in homes and offices on Thursday and Friday last week in what authorities said was a three-year investigation into private corruption, tax fraud and money laundering.

Armando Pereira

Photographer: Eric Piermont/AFP/Getty Images

He’s ...