(Photo: Reuters/Rodrigo Paiva)
Federal police raided the offices of Brazilian steelmaker Gerdau SA (GGBR4.SA) on Thursday and summoned its chief executive to testify on suspicion the company evaded hundreds of millions of dollars in taxes.
André Gerdau Johannpeter, the chief executive, agreed to appear voluntarily rather than be arrested under an outstanding warrant, a federal police spokesman said, adding he was one of 22 people police ordered to testify in the case by day’s end.
Gerdau, Brazil‘s largest steelmaker and a family company that has made steel for generations, is suspected of evading 1.5 billion reais ($380 million) in back taxes, the spokesman said.
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