A Brazil court has ordered the arrest of two former executives of Lojas Americanas S.A., as part of an investigation into alleged accounting fraud at the Brazilian retailer, Reuters reported. The executives, both of whom are living abroad, are allegedly responsible for the biggest fraud in Brazilian history, estimated at 25.3 billion Brazilian reals ($4.6 billion). The court has also ordered a freeze on some BRL500 million in assets owned by the former executives.
