Portuguese authorities, supported by the French judicial police, conducted a series of raids on March 12, 2026, at the residences of Armando Pereira and Hernâni Vaz Antunes as part of an investigation into corruption within the Altice group.

International dimension of the operation

For the first time, officers from the French judicial police (PJ) participated in the raids in Vieira do Minho and Braga.

Main targets of the operation

The actions focused on the properties of Armando Pereira, co-founder of Altice, and businessman Hernâni Vaz Antunes.

Charges in Operation Picoas

The investigation concerns private corruption, money laundering, and tax fraud within the structures of the telecommunications giant.

Portuguese authorities conducted a series of new raids on March 12, 2026, as part of the multi-faceted investigation known as Operation Picoas. The actions focused on the properties of Altice telecommunications group co-founder Armando Pereira in Vieira do Minho and the residence of businessman Hernâni Vaz Antunes in Braga. In the operation, alongside the Portuguese Public Ministry and Tax Authority, officers from the French judicial police participated for the first time. Investigators are examining suspicions of corruption, money laundering, and tax fraud that allegedly harmed the interests of the Altice group and the state. Operation Picoas has thus gained a distinct international dimension, linked to the presence of French law enforcement in the Portuguese residences of the suspects.

The main targets of Thursday's actions were luxury properties belonging to key figures associated with the conglomerate. Officers entered the property of Armando Pereira, who previously served as Chief Operating Officer within Altice structures and is considered a close associate of Patrick Drahi. Simultaneously, the home and company headquarters belonging to Hernâni Vaz Antunes, described by media as Pereira's former right-hand man, were searched. According to investigators' findings, the scheme allegedly involved manipulating the Altice group's procurement processes to funnel funds to entities controlled by the suspects. The investigation into Operation Picoas publicly began in July 2023, when Armando Pereira was detained and placed under house arrest. A year after these events, in July 2024, the businessman regained his passport and full freedom to travel, but the proceedings remained ongoing. The Altice group, founded in 1994, is one of the largest media-telecommunications conglomerates in Portugal, previously operating under the name Portugal Telecom.

Cooperation with the French PJ suggests that the evidence may also concern financial operations conducted in France, where Altice holds extensive assets. Representatives from the Portuguese Tax Authority (AT) and prosecutors from the Public Ministry (MP) also participated in the action. The new raids are part of evidence gathering in a case that has shaken the Portuguese telecommunications and financial market for years. Operation Picoas Milestones: 13 July 2023 — First arrests; 25 July 2024 — Passport returned; 12 March 2026 — New raids

Mentioned People

  • Armando Pereira — Co-founder of the Altice group, whose residence in Vieira do Minho was the main target of the raids.
  • Hernâni Vaz Antunes — Businessman and close associate of Pereira, suspected in the Altice corruption case.
  • Patrick Drahi — Billionaire and owner of the Altice group.
  • Alexandre Fonseca — Former president of Altice Portugal, facing charges in the investigation.