Federal Police Escalate Banco Master Probe With 42 Raids and R$5.7 Billion in Asset Freezes

Overview

• Court-ordered searches targeted addresses in São Paulo, Bahia, Minas Gerais, Rio Grande do Sul and Rio de Janeiro, including sites on Avenida Faria Lima.
• Targets included bank owner Daniel Vorcaro, relatives, investor Nelson Tanure—whose phone was seized at Rio’s Galeão airport—and Reag founder João Carlos Mansur.
• Fabiano Zettel, Vorcaro’s brother-in-law, was detained at an airport before a flight to Dubai and released after the operation’s procedures.
• Police seized luxury cars, high-end watches, a revolver and roughly R$97,000 in cash while collecting phones, electronics and documents.
• Investigators allege a scheme that raised money via high-yield CDBs and routed funds through investment vehicles, with losses estimated by the PF at up to about R$12 billion; the STF, via minister Dias Toffoli, authorized the measures under seal, following November arrests and the Central Bank’s liquidation of Banco Master.