Auditing firm finds fraud at ELETROBRAS
Auditing firm finds fraud of approximately 20 billion dollars at ELETROBRAS.
The auditors' report demonstrates the illegal payment of capital using reserves that should have been used for the dividends to minority shareholders with preferred shares and to the payment of debentures recorded in the company`s accountancy and mentioned in Shareholders` Meetings.
It is also demonstrated the illegal appropriation of capital by shareholders like CAIXA ECONÔMICA FEDERAL (Brazilian Federal Bank for Savings and Loans), BNDES (National Brazilian Bank for the Social Development), BNDESPAR (equity fund owned by BNDES), Banco do Brasil (Brazil`s Bank) and the Central Federal Brazilian Administration nicknamed in Portuguese as “União”. |