In an interview with CNN this Monday (16), the president of the Brazilian Association of Investors (Abradin), Aurélio Valporto, stated that “it is very unlikely” that the former board of Americanas and its majority shareholders were not aware of the billionaire gap in the accounts of the retail giant — called by Valporto as a “monumental fraud”.
“It is very unlikely that a coup of this size will occur without the knowledge of the former directors of Americanas and the said reference shareholders, which the BTG bank accuses in its initial document with the 4th Corporate Court of Rio de Janeiro”, said the representative of the Abradin, alluding to the trio Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira, from the 3G group.
“All of this needs to be investigated, because it calls into question the credibility of the entire Brazilian capital market and other companies under the same reference shareholders.”
According to Valporto, the case takes place amid the country’s need to attract direct investment to “foster economic activity”.
“They used the euphemism of ‘accounting inconsistency’ to try to minimize a monumental fraud against minority shareholders and the Brazilian capital market”, he said.
“This has the effect of alienating investors from the capital market, which, despite having a high turnover, is still very incipient as a driver of the economy and this type of event comes to harm much more than investors in Americanas, and yes all the national economy.”
Source: CNN Brasil
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