The former Americanas CEO has been released in Madrid, but will have to remain in Spain and surrender his passport Policy

The executive's defense said in a statement that he “is at his residence in Madrid, Spain, at the same address that has been reported to the Spanish authorities since 2023.” He will defend himself against what he calls “allegations stemming from false allegations” (See full below).

Brazilian investigators monitoring the action in Spain told Globo TV that Gutierrez had a hearing at 10 a.m. on Saturday (29) local time (5 a.m. Brasilia time).

With the release, Miguel Gutierrez will have to fulfill a series of obligations before Spanish justice:

• Appearing in court every two weeks;
• Surrender your passport to the authorities;
• Pledge not to leave Spain.

On Thursday (27), the Federal Police launched a detection operation against accounting fraud in Lojas Americanas. According to investigations, the loss will reach 25 billion Brazilian riyals. Gutierrez denies any wrongdoing.

Arrest warrants were issued for Gutierrez and Ana Cristina Ramos Saikaly, one of its managers, who remained at large as of Saturday morning (29).

Miguel Gutierrez has been living in Spain since the outbreak of the Americanas scandal in January 2023 and holds Spanish citizenship. His name and Saicali's name are on Interpol's Red Diffusion list, the world's most wanted list.

The Brazilian government is analyzing the possibility of requesting Gutierrez's extradition so that he can answer for the crime and serve a possible sentence in Brazil. However, the fact that he has Spanish citizenship is a complicating factor – Spain, as a rule, does not extradite its citizens.

Miguel Gutierrez's lawyers issued a statement confirming his release. Read below:

Miguel Gutiérrez's defense states that the CEO is at his residence in Madrid, Spain, at the same address that has been sent since 2023 to the Spanish and Brazilian authorities, where he has always been available to the various bodies interested in the ongoing investigations.

Yesterday (06/28), the executive authority spontaneously appeared before the police and judicial authorities to provide the required clarifications.

By having access to the records, Miguel will now be able to defend himself against allegations arising from false statements about him.

The defense also reiterates that Miguel has never participated in or been aware of any fraud and that he has been cooperating with the authorities and providing the necessary clarifications in the appropriate forums, once again expressing his absolute confidence in the Brazilian and international authorities.