Federal Police Open Second Phase of Banco Master Probe With R$5.7 Billion in Asset Freezes

Overview

• Police executed 42 search-and-seizure warrants on Wednesday across São Paulo, Bahia, Minas Gerais, Rio Grande do Sul and Rio de Janeiro, coupled with sequestration and blocking of assets exceeding R$5.7 billion.
• Addresses tied to Banco Master founder Daniel Vorcaro and his family were searched, including locations linked to his father, sister and brother-in-law.
• Police also targeted investor Nelson Tanure, according to G1, as part of the expanding list of individuals under investigation.
• The inquiry examines alleged sale of falsified CDBs with returns well above market levels and the diversion of client resources to assets connected to Vorcaro and relatives.
• Authorities say the measures aim to halt an alleged criminal organization and recover assets, building on a November phase that made seven arrests and preceded the Central Bank’s liquidation of Banco Master, with probes also reviewing rapid, extraordinary fund transactions such as those involving Brain Cash managed by Reag.