Americanas Says Independent Committee Confirmed Accounting Fraud

Conclusions of the independent investigation work carried out by the Independent Committee were presented to the Board of Directors, Americanas says in filing

• Committee was created to analyze the circumstances that caused the events reported on January 11, 2023 and June 13, 2023
• The evidence presented by the Committee confirms the existence of accounting fraud, characterized mainly by improper entries in the Supplier’s account, through fictitious VPC contracts (cooperative advertising budget) and financial operations known as “drawn risk”, among other operations that are fraudulent and incorrectly reflected in the Company’s balance sheet, according to the statement
  • “Those responsible for commanding ...