New phase of the Disclosure operation targets Americanas shareholders and executives from financial institutions
This Thursday (June 25, 2026), the Federal Police issued 9 search and seizure warrants against Americanas shareholders and executives of financial institutions, in the 2nd phase of the operation. The action seeks to deepen investigations into accounting fraud estimated at R$54 billion. Among the targets of this phase are shareholders and executives from Itaú Unibanco, Santander and Bradesco. Americanas was not the target of this operation.
According to the G1the targets are Americanas shareholders Carlos Alberto da Veiga Sucupira and Paulo Alberto Lemann, in addition to Eduardo Saggioro Garcia, appointed as the partners’ operator.
Also targeted are José de Castro Araújo Rudge Júnior and Gustavo Balassiano, executives at Itaú Unibanco; Carlos Henrique Villela Pedras, from Bradesco, and André Juaçaba de Almeida and Alexandre Lian Abdo, from Santander.
The search and seizure warrants were issued by the 10th Federal Criminal Court of Rio de Janeiro, which also ordered the seizure of assets and valuables in the name of those being investigated.
According to investigations, the suspects were aware of alleged accounting frauds carried out over years, related to risk-taking operations and cooperative advertising funding contracts supposedly accounted for without economic backing. The investigations point to evidence of crimes of market manipulation and criminal association.
To the Poder360Itaú stated, in a note, that executive Gustavo Balassiano left the bank in 2020, and that he has been collaborating with investigations into the case since 2023. According to the institution, the records presented to the Court “make it clear that Itaú refused requests from the former management of Americanas to change balance sheet circularization letters”.
In a note, Santander said that it is “alongside the injured parties in the investigation of fraud involving Americanas“, and continues to collaborate with the authorities.
OTHER SIDE
To the G1Carlos Alberto da Veiga Sucupira and Paulo Alberto Lemann stated that they were surprised by the operation. They also said that they have been cooperating with investigations over the last few years and that both they and the Board of Directors were deceived by the company’s former management.
O Can tried to contact the other executives mentioned, but was unsuccessful in finding a valid telephone number or email to inform them about the content of this report. This text will be updated as soon as any comments are received.
To the Poder360 also contacted Bradesco by email. This text will be updated as soon as any comments are received.
