Brazil Targets Refit in R$26 Billion Tax-Fraud Probe With Asset Freezes and Searches

Overview

• The operation executed 126 search warrants in five states and the Federal District and froze about R$10.2 billion, as owner Ricardo Magro was not located and is reported to reside in Miami.
• Court records describe a structured scheme using successor and front companies, funds and offshores to avoid ICMS and shield assets, with investigators citing at least 17 related investment funds.
• ANP inspections reported that Refit produced gasoline by simple mixing rather than refining and flagged safety failures such as unauthorized tanks and missing containment; a partial desinterdiction left the distillation tower closed.
• The probe targeted Jonathas Assunção, a former top Casa Civil official now at Refit, and also reached commentator Cristiano Beraldo, while the company denies fraud and says the tax disputes are being litigated.
• Federal investigators are analyzing office-window notes referencing “mapping” of courts and agencies and names like deputy Dal Barreto, who denies involvement, as prosecutors focus on asset recovery and potential criminal charges.