In an operation led by the São Paulo Public Prosecutor’s Office last Tuesday (12), authorities arrested Sidney Oliveira, founder of the Ultrafarma pharmacy chain, and Mário Otávio Gomes, statutory director of Fast Shop. During the arrests, police seized about R$ 1.8 million in cash and R$ 10 million in cryptocurrencies, according to O Globo.

The two executives, along with their companies, are under investigation for allegedly participating in a large-scale bribery scheme to speed up and secure the release of ICMS (Tax on the Circulation of Goods and Services) credits. Prosecutors say the corruption network—designed to enable tax evasion—may have moved over R$ 1 billion in bribes.

Luxury Goods and Cash Found

The crackdown, dubbed Operation Icarus, also resulted in the seizure of luxury watches, gemstones, and other high-value items.

The largest haul came from the home of Celso Éder Gonzaga de Araújo, suspected of laundering money for the group. In his Alphaville residence, investigators found R$ 1.2 million, US$ 10,700, and € 1,590 in cash, about R$ 200,000 in cryptocurrencies, luxury watches, and emeralds.

Marcelo de Almeida Gouveia, a tax auditor arrested during the operation, was found holding R$ 2 million in crypto assets, plus R$ 330,000, US$ 10,000, and € 600 in cash. Artur Gomes da Silva Neto, supervisor at São Paulo’s State Department of Finance (Sefaz-SP) and identified as the scheme’s main operator, was also taken into custody.

From Maria Hermínia de Jesus Santa Clara, an accountant alleged to have acted as an assistant in the scheme, police seized R$ 73,000 and US$ 13,000 in cash. In total, 19 search and temporary arrest warrants were executed.

How the Scheme Worked

According to prosecutors, the operation revolved around Smart Tax, a company that began handling large sums in 2021—receiving millions from Fast Shop alone. By 2022, annual amounts exceeded R$ 60 million. After lifting banking secrecy, the Federal Revenue found Smart Tax had processed over R$ 1 billion from Fast Shop.

The company was registered under the name of Artur Gomes da Silva Neto’s mother, with its headquarters in the auditor’s own home in Ribeirão Pires. Transactions appeared legitimate through the issuance of invoices and payment of ICMS, but investigators allege the credits released were often inflated beyond what companies had actually accrued and were approved much faster than legally possible.

Evidence suggests the network handled the entire ICMS reimbursement process, from collecting documents and filing requests with Sefaz, to monitoring and securing rapid approvals. Besides Fast Shop, prosecutors confirmed Ultrafarma.

also used the service.