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id: 565, Created by Stan Vick Chase, Scout
Sanepar (SAPR11) Fraud Damages Case
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In December 2021, the BoD of Sanepar (SAPR11) recognized a R$6.5 million loss and an additional R$ 2 million provision due to the results of the Fraud investigation into a corruption scheme involving the company's workers.
The investigation was initiated in July 2020 by the Public Ministry of Paraná.
In June 2021, prosecutors charged 26 individuals with crimes such as criminal association, active and passive corruption, bid fraud, embezzlement, and document falsification. The Public Prosecutor's Office alleges in its complaint to the court that two engineering companies paid R$ 1.4 million in bribes to Sanepar employees to secure contracts.
As a result of the Sanepar (SAPR11) and its Leaders' actions and omissions, Investors suffered damages when the true details entered the market.
Breach of Fiduciary duty,
Shock Event Date
30 December 2021