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

By Caio Rinaldi ( May 10, 2021, 22:25 GMT | Insight) -- 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.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....

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