BRB Says It Recovered Over R$10 Billion in Questioned Portfolios as Banco Master Case Advances

Overview

• BRB said more than R$10 billion of the R$12.76 billion under scrutiny was liquidated or substituted and that the remainder is not direct exposure to Banco Master, adding it is a creditor in Master’s extrajudicial liquidation.
• Federal police and prosecutors are investigating indications that about R$12.2 billion in nonexistent credit portfolios were sold, and the Central Bank has ordered Banco Master’s extrajudicial liquidation.
• Two businessmen tied to alleged originators, André Felipe de Oliveira Seixas Maia and Henrique Souza Silva Peretto, were released after their temporary detentions expired, while founder Daniel Vorcaro remains in preventive custody after a habeas corpus was denied.
• BRB leadership shifted after court-ordered removals, with former president Paulo Henrique Costa back in Brazil saying he will cooperate and the DF governor naming ex-Caixa chief Nelson Souza to lead the bank.
• Vorcaro’s defense rejects the allegation of a R$12 billion fraud, arguing the portfolios came from third-party originators and were later substituted, and claims the police operation derailed a pending private sale of Master.