"I will not answer again about Vale do Lobo" – The Jornal Econômico

"How many times as an administrator of the Caixa did you negotiate a loan?" Asked the member of the Left Bloc, Mariana Mortágua. "Several times," replied Armando Vara.

The former minister also recalled "the amount of times" that he himself "went to the companies". "Of course the decision was made at the Caixa," he added. Mariana Mortágua once again insisted on Vale do Lobo. "I'm not going to answer back about Vale do Lobo," Vara said.

Vara also explained that António de Sousa said he was sold to the fund that he directs for 221 million euros. Well, that "added to about 100 million that the company had already paid by 2011, had amortized almost 50 million, plus almost 50 million interest, gives almost 321 million euros. It is with pain that I look for the Vale do Lobo project "

At the end of April, former President of Caixa Geral de Depósitos (CGD) António de Sousa said in the Assembly of the Republic that he expects that the purchase of credits and capital of Vale do Lobo by the venture capital fund he currently leads will be profitable , after having been ruinous for the public bench.
"I hope it's profitable. We have not gotten hit on every business we do. This is risk capital, there are results [negócios] and in others not, "António de Sousa said at the time, referring to the sale of the 229 million euro ECS venture to ECS Capital announced last year.

Armando Vara – who has been detained since January of this year after conviction in the Face Oculta case – was appointed CGD administrator in 2006 for the team presided over by Carlos Santos Ferreira, both of whom later moved to BCP in 2008.

The former Deputy Minister and Youth and Sports of the second government of António Guterres is one of the 28 defendants of Operation Marquis.
Of the defendants in this case, CGD's parliamentary inquiry committee Joaquim Barroca (formerly the Lena group administrator) and Diogo Gaspar Ferreira (former administrator of Vale do Lobo) have already been heard.

On May 29 it was announced that former Prime Minister Jose Socrates, also accused in Operation Marquis, will respond in writing to the questions of the deputies of the commission.

In Operation Marquês, Ricardo Salgado, Carlos Santos Silva, Henrique Granadeiro, Zeinal Bava, Bárbara Vara (daughter of Armando Vara), Helder Bataglia, Rui Mano de Ferro and Gonçalo Ferreira, companies of the Lena group (Lena SGPS, LEC SGPS and LEC SA) and Vale do Lobo Luxury Tourist Resort.

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