Newspaper Correio da Manhã reported that the elderly woman’s only granddaughter was in Portugal on holiday and visiting her grandmother when it happened.
The theft is thought to have taken place last Friday night after the grandmother refused to give the younger woman money.
Relatives told the newspaper that the elderly woman had already given her granddaughter money to build a house in Switzerland and a Mercedes car.
They said the pensioner kept the money, which came from the sale of properties and her late husband’s income, in her home as she didn’t trust banks.
During the granddaughter’s last visit to her grandmother’s home she is believed to have asked the older woman if she was feeling alright and, CM reports, “forced her to drink a glass of water” which she went to fetch.
After that the grandmother, who suffers from heart problems, felt unwell and the local fire-brigade was called to take her to hospital.
The granddaughter stayed behind claiming she had to go and pick up her children.
The younger woman is believed to have taken her grandmother’s life savings while the 81-year-old victim was being treated in hospital.
The victim noticed the money was missing the following morning after returning from hospital.
The elderly woman is said to have confronted her granddaughter by phone and only after threatening to call the police did the suspect hint she may have taken the money, reportedly saying the cash would be “safe in my hands”, and said she was on her way to Switzerland.
PSP police are investigating.