Former CEO of Brazil’s Americanas denies knowledge of accounting fraud

Former Americanas Chief Executive Miguel Gutierrez has denied in a letter sent to congressional investigators any knowledge of accounting irregularities during the two decades he helmed the Brazilian retailer. Gutierrez said he never "participated, authorized, ordered, tolerated or became aware of any act tending to manipulate the company's accounting or to enable any type of fraud," according to a Sept. 4 letter sent to the congressional committee investigating the retailer's near-collapse which was viewed by Reuters. Americanas quickly disputed Gutierrez's assertion, reiterating in a statement that independent advisers it had hired had found that management at the time had "fraudulently altered" documents to hide the circumstances that led to its bankruptcy filing.