Federal Police Seize R$5.7 Billion in Second Phase of Banco Master Fraud Investigation

Overview

• Officers executed 42 search-and-seizure warrants across São Paulo, Bahia, Minas Gerais, Rio Grande do Sul and Rio de Janeiro, including addresses on Avenida Faria Lima, by order of Justice Dias Toffoli.
• Targets include Banco Master founder Daniel Vorcaro, his relatives, businessman Nelson Tanure, and Reag founder João Carlos Mansur.
• Fabiano Zettel, Vorcaro’s brother-in-law, was detained before a flight to Dubai and released shortly after, while Tanure was located at Rio’s Galeão airport and had his phone seized.
• Authorities blocked and sequestered assets exceeding R$ 5.7 billion and collected luxury cars, cash, watches, a firearm and documents during the searches.
• Investigators are probing alleged fake credit portfolios and high-yield CDBs funneled through investment funds to insiders, with potential losses estimated around R$ 12 billion under ongoing court secrecy.