The Securities and Exchange Commission (CVM) accused eight former executives of retailer Americanas of improper use of privileged information in trading assets issued by the company before the disclosure of the accounting scandal in 2023.
In a statement late Friday, the CVM said that, after completing an administrative inquiry, it had gathered “robust, forceful and convergent elements that are capable of sustaining accusations” against former chief executive Miguel Gutierrez and seven other former executives. executives, including José Timotheo de Barros, Anna Christina Ramos Saicali.
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Americanas said the conclusions of investigations carried out by its independent committee and authorities show that it was the victim of “complex earnings fraud” orchestrated by its former executives, including the misuse of privileged information.
The company said it is interested in clarifying the facts and ensuring that all those responsible are held legally accountable.
Representatives for Gutierrez, Barros and Saicali did not immediately respond to requests for comment.
Americanas has been in judicial recovery since last year, after a billion-dollar accounting fraud at the retailer was revealed.
(Reporting by Marcela Ayres)
