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Lojas Americanas (AMER3): Former CEO, Miguel Gutierrezé, was arrested in Madrid.

Americanas (AMER3): Miguel Gutierrez, former CEO, is arrested in Madrid.

The former CEO of Lojas Americanas  (AMER3), Miguel Gutierrez, was arrested this Friday morning (28) in Madrid, Spain.

Since Thursday (27),  Miguel Gutierrez  had an arrest warrant issued by the Brazilian Court, as he is suspected of participating in accounting fraud at Americanas.

Gutierrez  has Spanish citizenship and had been in the European country since last year . His name had been included in the red notice , which refers to Interpol’s list of international fugitives.

Recall the development of the operation

This Thursday (27), the Federal Police launched  Operation Disclosure , which aimed to clarify the participation of former directors of Americanas (AMER3) in the accounting frauds of R$25.3 billion identified in the company in 2022.

Preventive arrest warrants were issued against Miguel Gutierrez, former president of Americanas  , and Anna Chistina Ramos Saicali, former director. Both were abroad.

Furthermore , Federal Police agents carried out search and seizure warrants at 15 addresses in Rio de Janeiro.

The 10th Federal Criminal Court of Rio de Janeiro also ordered the seizure of assets and values ​​totaling more than R$500 million.

The investigations count on the collaboration of the current board of directors of Americanas and are conducted together with the Federal Public Ministry and the Securities and Exchange Commission (CVM).

The former directors are suspected of committing accounting fraud related to risk-taking operations, in which the company is able to advance payment to suppliers through loans from banks.

In other words , they would also have defrauded cooperative advertising fund (VPC) contracts, which consist of commercial incentives generally used in the sector. However , VPCs were accounted for that never existed.

The former CEO of Americanas  and the company’s former executive were also included in Interpol’s red spread .

This system is used to publicize arrest orders for people abroad. With this, countries that are part of Interpol can execute the warrant in the event of the targets’ displacement.

Performance of Americanas shares (AMER3)

Check out the recent movement of  Americanas shares  (AMER3):

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