Brazil Expands Banco Master Probe With 42 Raids and R$5.7 Billion in Asset Freezes

Overview

• Federal Police launched the second phase of Operation Compliance Zero, executing 42 search warrants across five states and seizing luxury cars, watches, cash and a firearm.
• Targets included Banco Master owner Daniel Vorcaro and relatives; his brother-in-law Fabiano Zettel was detained at Guarulhos before a flight to Dubai and released shortly after.
• Businessman Nelson Tanure was located at Rio’s Galeão airport and had his cellphone seized, and investigators also targeted investor João Carlos Mansur, former head of Reag Investimentos.
• Investigators say funds were raised and routed through investment vehicles with part diverted to Vorcaro’s and relatives’ personal assets, with crimes under probe including fraudulent management and money laundering.
• Toffoli criticized PF for missing a court deadline and ordered seized items preserved at the Supreme Court, as PF sources countered that key addresses were only secured the night before; in a separate action Tuesday, Operation Overclean targeted Deputy Félix Mendonça Júnior with R$24 million blocked.