Espirito Santo Group

Chinese brokers had been looking to use some of the cash they raised this year to expand their global reach and offer a full range of products and services abroad, complementing China's internationalisation of its currency.

Portugal's Espirito Santo family business survived wars, dictatorship, revolution and family feuds for almost 150 years. Now, one of Europe's last banking dynasties is being stripped of its wealth and influence amid accounting irregularities, huge unreported debts, and a police investigation.

Chinese brokers had been looking to use some of the cash they raised this year to expand their global reach and offer a full range of products and services abroad, complementing China's internationalisation of its currency.

Portugal's Espirito Santo family business survived wars, dictatorship, revolution and family feuds for almost 150 years. Now, one of Europe's last banking dynasties is being stripped of its wealth and influence amid accounting irregularities, huge unreported debts, and a police investigation.