Americanas case: accusations are based on ‘partial’ document, says defense of former director of the company

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José Timótheo de Barros stated that the retailer’s statement admitting fraud by former directors ‘contains untruths and makes accusations that will need to be proven’. Lojas Americanas facade Press Release The defense of a former director of Americanas, appointed by the company as involved in the case of accounting fraud, said this Wednesday (14) that the accusations are based on a “partial document, designed to disturb the investigations “. Americanas released a material fact last Tuesday morning (13) admitting that there was fraud in the company by former directors. The assessment was based on a report by the retailer’s legal counsel, and included information collected by an independent committee that is investigating the case. One of the six defendants cited by name by Americanas, José Timótheo de Barros, former operational director of the company, stated in a note that the material fact disclosed by the company “contains untruths and makes accusations that will need to be proven”. “Based on a document partially prepared to disturb the investigations, excerpts of what would be part of an investigation report made by the company’s lawyers (not by the independent committee) were shown in a frivolous way in a commission of the National Congress”, said the defense note. by Timótheo de Barros. The text also cites that the disclosure of these excerpts in the Parliamentary Inquiry Commission (CPI) was “light” and that “mere suspicious opinions” were presented as if they were true. AMERICANAS’ ACCOUNTING BREAKDOWN: CHRONOLOGY OF THE CASE Timótheo de Barros was removed by the company along with five other high-ranking executives, including former president Miguel Gutierrez, in February, and resigned in May. Gutierrez’s office did not respond to a request for comment. In the presentation he made to the deputies at the CPI, the current president of Americanas, Leonardo Coelho, who arrived at the company about a month after the revelation of the accounting breach, at the beginning of the year, exposed documents and internal communications that, in his view, support the commission of fraud. According to these documents, Timótheo de Barros is appointed, among other points, as one of the former directors who received an email that supposedly shows the existence of an accounting statement parallel to the one disclosed to the market in 2021 by the company. This result would show an operating loss of R$733 million for the year, instead of the officially reported profit of R$2.9 billion. The note from Timótheo de Barros’ advisory said that the accusations made “will be subject to due investigation by the competent authorities based on formal requests to be made by the defense”. Coelho revealed to the CPI the involvement, in addition to the former six high-ranking executives, of more than 30 employees, who were fired this week.

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