Financial Advisor Under Investigation

In Search of Hope – by Sam Gannon

Seconded to the parish of Tililngdon, the Reverend Dolores has been presented with a challenge.

She’s living in an antiquated house and she’s cold. Furthermore, her new Bishop, Bishop Alice does not approve of ‘showgirls in dog collars.’

Determined to prove the Bishop wrong, she sets about warming her house – who cares if it smells of horse! There is the crochet club, jumble sale, and soup run to organise. And this year, the church bells will ring, no matter what threats are made. Even more so, the newly formed choir will spread a little joy this Christmas, even though they can’t sing – yet! And with a little help from Phil, her bassist, this year could be full of magic.

However, she has a fight on her hands as the townies out in Knob Hill – she must stop calling it that, are trying to stop her from ringing her bells. When Krystal with a K decides to do some volunteer work, Dolores sets out to see just how committed she really is.

Up to her ears in granny squares and squawking choristers, Dolores is revving up for Christmas, yet a deeper darker secret is beginning to emerge!

A secret that could blow the whole parish apart and put Dolores in danger.

(available from Amazon)

Financial analyst Catarina Castro, who was President of the regional delegation of SEDES – Association for Economic Development, is being investigated by the Judiciary Police and the Ministry of Social Affairs. Following criminal proceedings for alleged fraud and abuse of trust that have harmed several Madeirans, including former MEP Sérgio Marques.

Among the whistleblowers are wine sector businessman Humberto Jardim, former MEP Sérgio Marques, and physiotherapist Sandro Freitas. According to an investigation by Sábado, each allegedly invested about 50 thousand euros under the guidance of a consultant, using accounts opened at Banco Best. They claim the manager, linked to the company, ‘Great Search,’ requested direct access to their accounts to perform financial operations, a practice they initially believed was part of asset management. The complaint states that these investments shifted into high-risk instruments (CFDs – Contracts for Difference), generating frequent commissions and heavy losses. The alleged losses amount to around 50 thousand euros per investor, with transactions increasing until nearly exhausting the available capital.

Sérgio Marques mentions difficulties in redeeming the amounts applied and describes a succession of justifications that raised suspicions, leading to the filing of a complaint with the Public Prosecutor’s Office in early 2025.

The Attorney General’s Office confirmed to Sábado magazine the existence of an ongoing investigation, conducted by the Public Prosecutor’s Office, with the support of the Judiciary Police. In addition to the cases in Madeira, there are indications that others, too, have lost money, which could broaden the scope of the investigation.

In response to Sábado magazine, through her lawyer, Catarina Castro says she is unaware of any criminal case and guarantees that she has not been notified or heard by the authorities. She also refutes all the accusations, classifying them as false.

The financial consultant worked in Madeira. In March 2022, as a representative of Banco Best in the two autonomous regions, she was a speaker at the ‘Women in Tech’ conference, organised by the StartUp Madeira to mark International Women’s Day. In December of 2022, she became the first President of the regional delegation of SEDES – Association for Economic and Social Development. On the 18th of March 2023, she was involved in the inauguration of the headquarters of the association in Funchal, which was attended by the then President of the Republic, Marcelo Rebelo de Sousa, the President of the Regional Government, Miguel Albuquerque, and the President of the CMF, Pedro Calado.

In July 2024, the Coordinating Council of the National SEDES announced that Catarina Castro had been suspended “for strictly personal reasons.”

Samantha Gannon

info at madeira-weekly.com