Product distribution company Tropigália is distancing itself from a lawsuit involving its Chairman of the Board of Directors, Adolfo Correia.

Tropigália's PCA was arrested last Friday in connection with a previously undisclosed case of alleged fraud against a foreign businesswoman involving large sums of money. Find out more...

In a statement, the company said that news had been published in which "false and frivolous" accusations had been made against it. It then clarifies: "The accusations made... are, in fact, related to the actions of Mr. Adolfo Correia individually, and have nothing to do with Tropigália."

According to the note, there is no involvement between the company and any ongoing legal proceedings, and it is willing to collaborate with the competent authorities to provide any clarifications.

"We are confident that the ongoing investigation will result in the complete and total acquittal of our PCA," it reads.