Overview
- Brazil’s central bank seized Banco Master’s assets and those of current and former administrators, appointing a liquidator to handle creditor claims and asset sales.
- Police confirmed six arrests, the freezing of billions of reais, and the seizure of luxury cars, artworks and watches as part of the investigation.
- Two sources with direct knowledge said controlling shareholder Daniel Vorcaro was arrested, a detail police did not officially confirm.
- The probe also touches state-run BRB, whose CEO Paulo Henrique Costa was suspended by court order for 60 days as search and seizure warrants were executed at the bank’s headquarters.
- A planned purchase of Banco Master by a consortium led by Fictor with UAE investors was announced hours before the shutdown but was subsequently called off.