Through a material fact, the retailer also indicated the participation of former chief executive Miguel Gutierrez, in the gap
Americanas assumed that its balance sheets were defrauded by the previous board. The confession about the case that happened five months ago, when the company communicated that there was an “accounting inconsistency” of R$ 20 billion, was revealed through a material fact released by the retailer this Tuesday (13).
The disclosed document was assembled based on the papers delivered by the investigation committee set up by the company. According to the report, artificial commercial incentive contracts were identified, created to improve the company’s results.
The material fact also indicated the participation of former chief executive Miguel Gutierrez, who left the company in December 2022, as well as other former directors and former executives in the fraud, and claims that there were efforts by the previous board to hide the real situation of the result and equity.
According to the company points out, the fraud occurred in the supposed contracting of bonuses with the industry, entitled “contracts of cooperative advertising budget and similar instruments (VPC). , in this case, the discounts did not occur.
In this way, Americanas improved its balance sheet, while the board of directors at the time took out loans without the knowledge of the board in order to pay suppliers. The information indicated that the total sum of these contracts was BRL 21.7 billion up to September 30, 2022.
“The accounting counterparts in the balance sheet of these VPC contracts created over time, which had no associated financial backing, took the form of mostly entries reducing the supplier account, totaling, in preliminary and unaudited numbers, the balance of BRL 17.7 billion on September 30, 2022. The difference of BRL 4 billion was offset by accounting entries in other accounts of the company’s assets”, points out the report.
In addition to the VPC operations, the retailer also pointed out that the previous board contracted financing in which the company was indebted to banks, without due corporate approvals, all of which were improperly accounted for in the balance sheet on September 30, 2022 in the suppliers account. These operations add up to R$18.4 billion and working capital financing operations reach R$2.2 billion, in preliminary and unaudited numbers in both cases.
Americanas also stated that the effect of the adjustments resulting from fraud on the company’s results over time is still being determined, but the “management’s expectation that the impact on the most recent results will be significant”.
wanted by propmarkAmericanas did not comment until the publication of this article.
