Overview

• Cruz is the fourth former executive to cooperate, following Flávia Carneiro, Fábio Abrate and Marcelo Nunes.
• His testimony, reported by O Globo, aligns with prior accounts that Miguel Gutierrez led the scheme with Anna Saicali as second in command.
• He detailed the use of fictitious cooperative advertising (VPC) contracts and risco sacado financing to conceal supplier liabilities for years.
• He said adjusted figures were taken to the board and to reference shareholder Beto Sicupira instead of the unaltered numbers.
• He reported selling shares before the scandal became public as PF and MPF inquiries continue, including probes into suspected information sharing in 2024.