Brazil Police Arrest Banco Master Owner as Central Bank Orders Liquidation in R$12 Billion Fraud Probe

Overview

• Daniel Vorcaro was detained at Guarulhos on Monday night as he prepared to board a private jet to Malta, with at least six of seven arrest warrants executed by Tuesday.
• Federal police carried out five preventive and two temporary arrest orders plus 25 search-and-seizure warrants across Rio de Janeiro, São Paulo, Minas Gerais, Bahia and the Federal District.
• The Central Bank placed the Master group in extrajudicial liquidation, froze the assets of controllers and former managers, and named EFB Regimes Especiais de Empresas as liquidator.
• A Federal District court ordered about R$12.2 billion blocked while agents seized R$1.6 million in cash, luxury cars and artworks during the searches.
• A judge temporarily removed BRB president Paulo Henrique Costa and other directors for 60 days, opposition parties sought a DF legislative CPI, and the proposed Fictor-led purchase was halted by the liquidation.