Banco Master Owner Arrested as Central Bank Orders Liquidation

Overview

• Police detained Daniel Vorcaro after intercepting him at Guarulhos airport, as Operation Compliance Zero executed five preventive and two temporary arrest warrants plus 25 searches across five states and the Federal District.
• The Central Bank decreed the bank’s extrajudicial liquidation and froze the assets of controllers and former executives, halting the recently announced sale plan involving Fictor.
• Judges ordered R$12.2 billion blocked in the case, and federal agents seized about R$1.6 million in cash along with luxury cars, artworks and high-end watches.
• The probe targets alleged management fraud, reckless management and organized crime linked to unbacked credit portfolios that investigators say were sold to BRB and later swapped for other assets without proper valuation.
• The court suspended BRB president Paulo Henrique Costa and the finance chief for 60 days, opposition parties moved to launch a CPI in the DF legislature, and the PF director told a Senate CPI the suspected fraud could reach R$12 billion.