LISBON (AFX) - Banco Espirito Santo SA's offices in Madeira were searched on Friday by Spanish and Portuguese authorities regarding the 'Operation Sweater' money laundering case currently being investigated by Spanish Judge Baltazar Garzon, Diario Economico reported without citing a source.
The search follows raids on BES and BNP Paribas (other-otc: BNPZY.PK - news - people ) branches over the same case in Madrid and Barcelona a month ago which led to 5.5 bln eur of funds of BES clients being frozen.
According to the newspaper, judges and prosecutors from Spain and Portugal were present at Friday's raid, as well as representatives from both nation's police forces.
Diario Economico cited the bank as denying having committed any illegal activity in relation to the case.
http://www.forbes.com/business/feeds/afx/2006/12/18/afx3262369.html
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