Chamber installs Americanas CPI; Presidency stays with Republicans and rapporteurship with MDB

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Parliamentary commission of inquiry intends to investigate accounting inconsistencies of the company that reach R$ 20 billion. Two other CPIs were also installed this Wednesday. The Chamber of Deputies installed this Wednesday (17) a Parliamentary Commission of Inquiry (CPI) destined to investigate the accounting inconsistency of more than R$ 20 billion that was presented in the financial balance sheets of Lojas Americanas. At the installation, the members chose by 16 votes in favor and one blank the deputy Gustinho Ribeiro (Republicanos-SE) for the presidency of the commission. The first vice-president will be deputy Junior Mano (PL-CE) and the rapporteur designated by the president will be Carlos Chiodini (MDB-SC). As soon as he took over the presidency, Gustinho said that it is necessary “to be aware of not destabilizing the country’s economy”, but he stated that it is necessary to punish those responsible for fraud. “We have to be aware of not destabilizing our country’s economy, especially at the moment we are living,” he said. “But we cannot admit any type of fraud that could scratch the image of our country, the image of our Brazil in terms of our economy.” Market credibility In January of this year, Americanas entered into judicial recovery after declaring tax inconsistencies of R$ 20 billion and a debt of R$ 43 billion. The case raised suspicions of fraud and is being investigated. The purpose of the CPI is to investigate these inconsistencies. The request for opening the Commission, authored by Deputy André Fufuca (PP-MA), maintains that the installation of the commission is necessary because the “episode with the Americanas, thus, affects the credibility of the entire stock market in Brazil” . “The episode with the Americanas thus affects the credibility of the entire stock market in Brazil and it is in the public interest to ensure that investors can be absolutely certain that the popular economy will never be harmed by any kind of fraud, mistakes or cover-ups of gaps in balance sheets, without the government investigating and exposing everything that happens in cases of this type”, says the document. Lojas Americanas facade Press Release The commission opening request was read at the end of April by the mayor, deputy Arthur Lira (PP-AL). On the same occasion, Lira also read the opening requirements of two other CPIs: the MST and another on the manipulation of results in soccer matches. The MST’s CPI has already been installed and will have the former Minister of the Environment in the Bolsonaro government, Ricardo Salles (PL-SP), as rapporteur. Also read: Americanas case: director removed after billionaire gap resigns from office Americanas makes agreement with banks to suspend judicial disputes Commission operation For a CPI to be created, at least 171 deputies must support the creation of the parliamentary inquiry commission. After that, the President of the House reads the request for the creation of the CPI and sets a deadline for the party leaders to indicate the members of the collegiate. The proportion of vacancies in commissions follows the number of parties and blocks. The commission will have 120 days to investigate the issue and will have 27 full members and the same number of alternates. According to the chairman of the committee, the CPI meetings should take place on Tuesdays at 2:30 pm and on Thursdays at 9:30 am. At the next meeting, the rapporteur must present a work plan and the CPI must vote on requests. The CPI is expected to last until September 28, but it may be extended.

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