Americanas, a classic accounting fraud scheme
Last Tuesday, Americanas admitted that the former management carried out a series of frauds to hide the company's real situation.
Leonardo Pereira, new president, stated that the total value of the fraud was R$20 billion, simulating an artificial profit to pay bonuses for the board, dividends for shareholders and taxes.
Lawyer Antonio Carlos Mazzucco, from the firm Mazzucco & Mello, was interviewed by O Globo to help detail the case, a classic fraud, according to the expert.
“A fraud of this size goes beyond the financial statements. I view the document with serious reservations,” she declared.
The full article is at the link: https://oglobo.globo.com/economia/noticia/2023/06/entenda-os-detalhes-da-nova-fraude-revelada-pela-americanas.ghtml