Remember the 25 billion fraud of Americanas and understand the new PF operation

The so-called Operation Disclosure was initiated by the Federal Police, where new investigations declared that fraud by Lojas Americanas exceeds 25 billion reais. As a result of this action, the arrest of former CEO Miguel Gutierrez and Anna Christina Ramos Saicali, one of the former directors, was ordered. The two are considered fugitives by Brazilian justice, are outside the country and were included on Interpol's list of the world's most wanted.

In addition, 15 search and seizure warrants were issued against former executives, former directors and former CEOs involved in the scandal. The court ordered the freezing of 500 million reais in assets belonging to the suspects, who participated in the largest fraud in the Brazilian financial market.

The billion-dollar fraud was masterminded by the former board of Americanas, made up of: Anna Christina Ramos Saicali, Carlos Eduardo Padilha, Anna Saicali, Fabio Abrate, Jean Pierre Ferreira, Fabien Picavet, Luiz Augusto Henriques, Joao Guerra Duarte Neto, Jose Timotheo de Barros, Murilo dos Santos Correa, Marcio Cruz Meirelles, Maria Christina Do Nascimento, Miguel Gutierrez and Raoni Lapagesse Franco. They created advertising and financing contracts with fictitious suppliers for money laundering schemes, subtracted the value of debts with suppliers as if they had already been paid, carried out credit negotiations without collateral and tried to hide the financial reality of the company, which was already was bankrupt.

The fraud was made public by the former CEO, Sergio Rial, who was notified of the financial inconsistencies by employees. On the same day the fraud was disclosed, Lojas Americanas lost R$8.37 billion in market value. Workers were laid off and stores were closed.

The scandal has deeply shaken the confidence of investors and customers in the company, with shares plummeting 80% overnight. The investigations are still ongoing in court and it was only on Thursday (27), more than a year after the scandal became public, that some of the guilty parties began to be punished.

Empty shelves at Americanas (Reproduction/DouradosNews)

Featured photo: Façade of Americanas Stores (Reproduction/ShoppingMetrôTatuapé/MarianaRosário)