Brazilian Federal Police on Monday said they will ask prosecutors to indict Gerdau steel company President André Gerdau and 18 others as part of a sweeping tax fraud investigation. Among those named by the police are Gerdau various executives and government tax officials. Police said the group conspired to defraud the government of some R$1.5 billion in revenues. Lawyers for Gerdau have denied the charges. Gerdau is one of Brazil’s largest steel makers. It is considered the most integrated and globalized Brazilian steel company.
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