Overview
- The Fourth Section dismissed Álvaro Romillo’s appeal and confirmed the 7 November order sending him to jail without bail.
- The ruling notes €12.94 million located in a Singapore account that received over €29 million from Portugal and about $18 million later sent to Thailand.
- Judges highlight additional assets, including real estate, luxury vehicles, boats in several countries and a crypto wallet exceeding €7 million, as proof of capacity to abscond.
- Prosecutors and major victim representatives pressed to keep him in custody at Thursday’s hearing, arguing ongoing risks to the investigation and investors.
- Romillo, accused of leading the Madeira Invest Club scheme that allegedly defrauded about €185 million from roughly 3,000 investors, is also tied to a Supreme Court inquiry over a €100,000 cash payment to MEP Alvise Pérez.