São Paulo Prosecutors File Charges Against Ultrafarma Owner Over R$327 Million ICMS Refund Scheme

Overview

• The São Paulo state prosecutor’s office formally denounced seven people, including Ultrafarma founder Sidney Oliveira and ex‑auditors Artur Gomes da Silva Neto and Alberto Toshio Murakami, for corruption tied to tax reimbursements.
• The complaint cites a preliminary tally of about R$327.2 million in improper ICMS‑ST refunds to Ultrafarma and links the broader network to at least R$1 billion in bribes involving large retailers.
• Investigators say aides used Ultrafarma’s digital certificates to alter and submit files, inflated inventories to increase credits, and secured rapid approvals whose proceeds were later sold to third parties.
• Prosecutors asked the court to impose electronic monitoring and passport seizures for several defendants and to order preventive detention of the two former auditors, while seeking Interpol Red Notice inclusion for fugitive Murakami, whom they say resides in Maryland.
• São Paulo’s finance secretariat reports it has revoked prior rule changes tied to the processes, opened dozens of disciplinary cases, and is reviewing more than 3,400 credit entries connected to the investigation.