Financial Crime Financial Crime

Brazilian authorities target billion-dollar fraud scheme by conglomerate Grupo João Santos

By Caio Rinaldi
  • 10 May 2021 17:55
  • 10 May 2021 17:55
One of Brazil’s largest conglomerates, Grupo Industrial João Santos, has been targeted by the Brazilian federal police, federal prosecutors and the national revenue service for an alleged fraudulent, tax-evading scheme that potentially caused losses of more than 8.6 billion reais ($1.7 billion) to Brazil’s public coffers and the group’s employees.

The Fourth Federal

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