Former Portuguese premier Socrates arrested in fraud probe

Former Portuguese Prime Minister Jose Socrates is one of four people detained in an investigation into tax fraud, money laundering and corruption, the public prosecutor said.

The public prosecutor's office said in a statement that Jose Socrates was detained at Lisbon airport on Friday.

Reports say the 57-year-old politician will appear before a judge on Saturday to address the charges.

The statement added that three other suspects who have been held in recent days appeared in court on Friday.

Police, customs and justice officials have launched a probe focusing on bank operations and money transfers, the prosecutor's office said.

The development comes days after Portuguese Interior Minister Miguel Macedo stepped down amid a corruption scandal over granting residence permits or “golden visas” to wealthy foreign investors.

From 2005 until 2011 Socrates led a Socialist Party minority government, which requested Portugal’s three-year aid program from the European Union and International Monetary Fund two months before losing parliamentary elections.

Police have launched an investigation into allegation of granting residence permits to wealthy investors from outside the European Union.

Macedo has reportedly been accused of having a role in a company that has been identified in the investigation.

The "golden visa" scheme, launched in 2012 while Portugal was grappling with a debt crisis, allows foreign investors to buy property worth more than 500,000 euros and keep it for at least five years to receive residency rights.

Since then, more than 1,649 golden visas have been granted to foreign nationals, most of them Chinese.