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Star dentist sees the collapse of the empire!  Paolo Malo has been banned from working in the company that opened the doors for him into the elite circuit – The Mag

Star dentist sees the collapse of the empire! Paolo Malo has been banned from working in the company that opened the doors for him into the elite circuit – The Mag

In the mid-2000s, Paolo Malo He was a rising name in the Portuguese media scene, and when in 2007 he opened his clinic, which occupied the top two floors of a tower adjacent to the Catholic University of Lisbon, he invited several public figures to honor his success at a concert. There was no shortage of luxuries, live shows and magic that placed the well-known dentist in the elite category.

He then became known as the famous dentist and clinics were opening their doors at an amazing pace. In 2015, he opened a new unit in Aveiro and took a delegation of celebrities to celebrate the achievement of a new milestone, which included, for example, the actor Nicolau Brynner – who would die the following year – Wanda Stewart or Sofía Arruda.

The empire grew until it seemed no longer possible and only recently stoppedAfter losing the group to a fund, and declaring his personal bankruptcy, after a long battle led by Caixa Geral de Depósitos, which tried, in vain, Collecting a debt of eight million euros from a well-known healthcare professional.

At that time, according to the newspaper “Jornal de Negócios”, Malo claimed that he did not have the financial capacity to cover the debts, but it later became known that in October 2019 he declared an income of 29 thousand. euro. “I have a basic salary that allows me to live without problems.”He told the newspaper “Jornal de Negócios” shortly after announcing his insolvency.

Later, the dentist and businessman would be accused of deliberately hiding his income and assets in order to continue to maintain the same comfortable lifestyle and not pay off the debts he had accumulated.

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The ruling in this case was announced in February this year, when Paolo Malo was found guilty of dissipating assets, concealing income and violating his duties as an insolvent. For crimes, he is prohibited from carrying out any task related to management functions for a period of six years.

The case focused on the personal and professional life of Paolo Malo, who was also accused of hiding from his wife. Nancy Carolyn DeWittTo hide income. With this name, the apartment in which the couple lives in the Twin Towers in Lisbon is rented with their two children, for which they pay a monthly fee of 3,500 euros, in a luxury house of approximately 300 square meters.

Nancy Carolyn DeWitt
Image: flash

Following the conviction, the holding company owned by Paolo Malo and the Armilar Venture Partners funds, which previously owned the dentist's clinics, was put up for sale to pay off debts, to be sold on the Bar and Enforcement Agents platform.

A woman suffering from controversy

In 2018, Paulo Mallo's financial problems began to worsen and the dentist ended up losing the Mallo empire he had built in Portugal. The case ended up continuing in legal proceedings, with the debt being collected and Mallo subsequently declaring insolvency.

In the midst of the controversy, the famous dentist gave an interview to Manuel Luis Gocha where he discussed the most sensitive times.

“I have never been happy with defeat. I am a successful man. I have more than 16 international patents. I am one of the most famous dentists in the world. This departure was a defeat because I lost the Maló clinic in Portugal.”The doctor explained, adding that the woman let herself be affected by the disputes and often asked her to remain ignorant and not be aware of what was happening.

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“She treated me badly, suffered a lot, broke down, cried a lot… but the relationship is strong. She knows everything that happens, and sometimes she says: ‘I don’t want to know more, I can know’ ‘I don’t understand this’, so I stopped.” The professional said regretfully.