Portuguese Prosecutor Seeks Conviction of Businessman Mario Ferreira for Tax Fraud

The Portuguese Public Prosecutor’s Office asked a court in Porto to convict businessman Mario Ferreira, owner of Mystic Invest and the Douro Azul media group, for qualified tax fraud. The case concerns the purchase and resale of the vessel “Atlântida.” Ferreira’s company Mystic Cruises bought the ship in 2014 for €8.75 million, then sold it in June 2025 to International Trade Winds (ITW), a company incorporated in Malta and managed by Ferreira, for €11 million. ITW later sold the vessel to Norway’s Hurtigruten for €17 million. Prosecutors say the €3.7 million profit was not declared, resulting in an illicit tax advantage of about €1 million. The Malta‑registered ITW is described as a “shell” with no real activity or employees, created solely to shift profit and evade Portuguese taxes. The prosecutor also requested that Ferreira’s related firms, including Mystic Cruises and Valens Private Equality, be convicted.