Amaral Has New Jag Confiscated!

Maria

Thank you for your explanation. It would appear that it is likely a combination of things that has caused his money problems, and living beyond his means is right up there as one of the chief problems. Even if he did invest in private companies, that is still living beyond his means, as is avoiding paying taxes.

At the very least it shows he has questionable judgement, highlighted by his money problems and the results of that.

Also, there are specific laws, guidelines and processes in place to deal with police officeres in financial difficulties, in most nations. HEre is a link to a summary for the UK.

http://www.insolvencyhelpline.co.uk/debt_advice_for_police_officers/index.php

This disclosure may, for example, be made to Force Processional Standards/Complaints and Discipline Departments to protect the integrity of the officer and the organisation.

In the UK (and here inAustralia and in the US I believe) the police officer must declare his financial problems, and he/she is then subject to processes to ensure that the police officer is able to fulfil his/her duties properly. This is very important, as it protects the police officer from being the target of blackmail, or to partake of corrupt activities for financial reward etc.

I wonder if Portugal has anything like this, because Amaral should certainly have been on a watch list due to his financial problems, and subject to a more intensive review program. But that can only happen if such programs exist in Portugal. IN other words, if a police officer is bankrupt, or in financial difficulties, then they must be closely watched by internal police authorities to ensure that they are performing properly, and within the law.

No idea if such scheme exists here. But according to Amaral's behaviour, I would think that he would NEVER make use of such scheme, on the reverse, he would try to hide as much as he could. Could that be the reason why the houses are in his wife's name? The Jag in his company name (although this one is very much common around here)?

Sounds like a man in serious (self inflicted) financial trouble.
Sounds like a man who would do anything to obtain money (like write a book)
Sounds like a man wanting fame and fortune (so he can charge huge fees to be interviewed)
Mmmm....sounds like a man who's game is now up.

maria wrote:No idea if such scheme exists here. But according to Amaral's behaviour, I would think that he would NEVER make use of such scheme, on the reverse, he would try to hide as much as he could. Could that be the reason why the houses are in his wife's name? The Jag in his company name (although this one is very much common around here)?

I agree with you about placing the house in his wife's name. That would make any debts her, not his. But that implies something is not right even back then. Was he already in serious money problems at that point.

And as for the car being in the company name. That is common here as well, and is done for tax purposes. BUT, and it is a big but, here in Australia, the car would be leased, not owned by the company. The tax benefit comes from a leased car as the lease would be fully deductible. However, it would attract a further tax if it was used for predominantly private purposes. I wonder if there is a big tax benefit to the car being a company car, even if used predominantly for private purposes, OR if you are correct and it was done in an attempt to hide the car from creditors.

Another thing here is the structure of his personal company. I doubt that it is a limited liability company, which means that his assets and the company's assets will be one and the same. Of course, maybe he did lash out on some advice for this, but it didnt work, as the car was seized anyway, as will any other assets the company owns.

In Britain, if a car is bought by a company or a business, then the VAT can be reclaimed. Plus Insurance, Maintainance and Petrol would be claimed as expenses.

To run up a mortgage debt of 300,000 Euros in five years would suggest that hardly any of the mortgage was paid at all, and then only in the beginning. By 2003 they were already in serious difficulty.

It is the norm here as well for the companies to lease the car and yes his is a limited responsibilty company, one owner only, wich means that the company's profits/debts are his as well. Leasing a car here also exempts VAT. And the car can be used for private purposes as well. Very liberal this country...

I don't know if Jaguar would accept to lease a car to a company with a capital of 5.000 euro, which is the minimum to establish a firm in Portugal. And I'm amazed that any financial company would do so, as, as I said before, they have access to the financial situation at the Banco de Portugal. Also for a lease, the managing director (which is him) will have to provide IRS information, and his in no way is enough to pay for such a lease (please read new thread 'Gonzo the pauper').

Hi Maria
I have just posted on another thread here asking whether had Amaral's debts been known, if he could have remained in the police force. So, did he jump or was he pushed in order to retain his pension? His wife states that he resigned at great cost to himself in order to solve the Madeleine mystery. This statement made the McCanns look bad and solicited sympathy for Amaral not only from the Portuguese people but from elsewhere too. Obviously with debts of 300,000euros this man could have been open to acting corruptly.

Hi May!

Don't trust Sofia either!

He probably was pushed, he was a very hot potato in PJ's quaters by September/2007. Doing that, they could avoid questions like 'why didn't this guy been object of an internal inquiry YET?'. But again, he may have thought that he could follow Cristóvão the writer's steps in a much more lucrative way, and also that he was already pulling the rope to its limits... No idea.

And don't be so sorry for him. Last year, with this 'low income' he declared earnings of 39.000 euro. Not too much? Our minimum wage is around 5.300 euro pa and the state pension is just over 4.200 euro pa. He is on the second highest IRS tax.

Hi Maria, Do you know if the 39,000 Euros includes Sofia's earnings? And have you any idea of how much Amaral earned as a member of the PJ?

I just don't understand why they didn't pay the mortgage. The loan company must have thought they could afford it.

That statement about great cost to himself, never convinced me, which can be seen, and proved, by the smear campaign he organized with that disgusting book of lies.

Sofia's earnings should be included, that's the law. But Sofia should have a salary around 15.000 euro I would say. Being a civil servant, she probably doesn't earn much more than that.

And yes, just looking at the tax report, they should be able to repay for their mortgage. Only they probably preferred to pay for Hugo Boss suits for Amaral and designer handbags and sunglasses for the lady. These are not listed on the tax report...

maria wrote:Sofia's earnings should be included, that's the law. But Sofia should have a salary around 15.000 euro I would say. Being a civil servant, she probably doesn't earn much more than that.

And yes, just looking at the tax report, they should be able to repay for their mortgage. Only they probably preferred to pay for Hugo Boss suits for Amaral and designer handbags and sunglasses for the lady. These are not listed on the tax report...

Thank you, Maria, Shocking. I wonder if they are both bankrupt. Sofia must still owe money on the defaulted mortgage as the sale of the house would not have covered a debt of 300,000 Euros. And obviously this money cannot be recovered from Goncalo Amaral.

Hi Maria

I think Sofia and Gonc are just a pair of slippery eels! Can't wait for the book to be thrown at them. Eileen

Hi Eileen!

Yes slippery eels... Quite repulsive indeed.

Somewhere in here it was mentioned that Gonçalol bought shares from a race course. According to a usually well informed poster at Sky:


"He bought shares at the race course in Portimao? Smart man, with the economy the way it is, most people wouldn't.
Especial when there's petition in Portimao started by the neighboring homes and apartment building dwellers to have it closed and moved from the area."


Well informed but thick.

Hi Maria
The 39,000 euro that Amaral has said that he earns is a far cry from what his wife wrote in her despicable letter to Kate

Quote
As
you probably know, even because you seem like a very well informed
person to me, my husband's salary was less than 1.5 times the lowest
salary in your country. But as a wife, as a mother and as a Portuguese
citizen, I can't complain, because Gonçalo Amaral's salary was equal to
4.5 times the lowest salary in Portugal

Out to get the sympathy vote again?

It adds up! If his salary is 4,5 times the minimum wage, that gives 2025 euro a month, plus 1500 for her salary (as I calculated...) gives 3525 euro a month times 14 months ... 39.350 euro pa before tax!!!

Ahhhhh right, so he was including her salary along with his own. Sorted!