João Rendeiro's lawyer revealed that the former banker committed suicide in Westville prison in eastern South Africa.

"I don't know what happened. He killed himself," June Marks told "RTP" quoted by the Economic Journal. "I can't make any further comment at this time."

To "Correio da Manhã" the lawyer reported that the ex-banker was having an "erratic behavior in the last days".

However, in the last meeting with Rendeiro he was "encouraged" and confident that he would not be extradited to Portugal, a decision that would be taken by the court in June.

João Rendeiro's lawyer in South Africa, June Marks, informed South African authorities this week that she would no longer represent him.

"Sometime during the course of this week, the State was notified by its legal representative that it would be withdrawing its services. The State then required Rendeiro to appear in Verulam court today so that the legal matters [about his representation] could be addressed before the pretrial conference next week," according to a statement from the country's public prosecutor's office (NPA), quoted by "SIC Notícias."

"Prior to today's hearing, the state was informed that Rendeiro had passed away. The NPA is awaiting confirmation of this. The magistrate postponed the hearing until May 20 for the court to confirm Rendeiro's death and to make decisions," he adds.

Arrested on December 11 in Durban, after almost three months on the run from Portuguese justice, João Rendeiro was then brought before judge Rajesh Parshotam, of the Verulam court, who decreed on December 17 the most severe measure of restraint, placing him in preventive detention at the Westville prison establishment.

The former banker was convicted in three different processes related to the collapse of BPP, and the court found that it was proven that he withdrew 13.61 million euros from the bank. Of the three convictions, only one has become final and unappealable, with João Rendeiro serving a prison sentence of five years and eight months.

João Rendeiro was also sentenced to 10 years in prison in a second case and to a further three years and six months in a third case, both of which have yet to become final.

The collapse of BPP in 2010 damaged thousands of customers and caused losses of hundreds of millions of euros to the state.