CVM panel acquits ten accused of alleged FIP fraud Cais Mauá | Finance

The defendants in this case are ICLA Consultoria and the former chairman of the board of directors of the manager Luiz Eduardo de Abreu (who chaired the BRB from 1995 to 1999 and was financial director of Banco do Brasil from 2003 to 2005), the former president of Cais Mauá Brasil, Júlia Costa de Abreu, and the ICLA resources director, Paulo de Lima. Finance Moinhos and his managing partners were also accused: José Antônio Bittencourt, Sandra Huber, Camila Bittencourt Lopes, Silvio Dias Neto and Ademir José Schneider.

The trial resumed today at the request of Acting Director and President Otto Lobo on August 19. Lobo voted for the acquittal of all the accused, following the conclusions of the rapporteur of the case, director João Accioly. According to Accioly, published on March 25, the indictment did not demonstrate intent and was limited to highlighting financial gains, without explaining the fraudulent intent of each defendant.

In August, when director Marina Copola put the trial back on the agenda after requesting a review in March, she disagreed with the rapporteur’s interpretation and voted for the acquittal of two defendants (Camila Bittencourt and Júlia Abreu) ​​and for the other eight defendants to pay fines.

Opened in 2020, the sanction process dates back to 2008, when the revitalization of Cais Mauá, in Porto Alegre (RS), was granted to the company Cais Mauá Brasil (CMB), which belonged to the holding company GSS (90%) and Contern (10%). Starting in 2012, ICLA Group funds began buying out GSS’s stake through consultancy firm Finance Moinhos.

According to the indictment, ICLA funds paid Finance amounts up to three times their disbursements for the purchase of Cais Mauá Brasil shares, which would indicate unjustified overvaluation and possible fraud. The accusation also points to financial transfers between associates and managers linked to Finance and ICLA, which allegedly created the illusion of profitability to encourage investors.

When contacted, ICLA defenders Luiz Eduardo de Abreu, Júlia Costa de Abreu and Paulo José Lima welcomed the result. “The decision of the CVM panel was very correct, because it was proven that there was no connection between the behavior described in the indictment and the actions of the accused. Once again, the CVM acted with usual justice,” said lawyer Guilherme Traub.

Furthermore, lawyer Julia Franco, from Cescon Barrieu, who defended the first three defendants, highlighted the emphasis placed on the presumption of innocence. “From our understanding, the votes of Chairman Otto and Director Accioly were impeccable, having given due care to the principles of legal procedure and presumption of innocence, essential for the market,” he told the hearing. Value.

Silvio Marques Dias’ defense was not located. When contacted, the defense of the five other accused said they would not comment.