Benfica president resigns amid tax fraud investigation

A court ruled on July 10 that the 72-year-old would stay under house arrest until a three million euro bail was paid

LISBON:

Luis Filipe Vieira, who suspended his duties as president of Portuguese club Benfica last week after being detained as part of an investigation into alleged tax fraud and money laundering, has resigned from his post, local media reported on Thursday.

Vieira, who ran the club for 18 years, said in two letters to the chairman of the board that he was no longer in a position to carry out his duties after his arrest, according to Portuguese broadcaster RTP.

Benfica were not immediately available for comment.

Vieira, 72, was taken into custody on July 7 for questioning over deals worth more than 100 million euros ($118 million) that may have caused large losses to the state and several companies, public prosecutors said.

A court ruled on July 10 that Vieira would stay under house arrest until a three million euro bail was paid and ordered him to hand over his passport, giving him twenty days to pay the money.

Rui Costa, formerly vice-president of Benfica, took over last Friday as president after Vieira’s suspension. It is not yet known whether he will remain in the position permanently following Vieira’s official resignation.