Lula Blames Bolsonaro and Campos Neto for Banco Master Collapse

Overview

• The president made the remarks at a PT event in São Bernardo do Campo that launched Fernando Haddad’s pre-candidacy for governor of São Paulo.
• Lula tied the episode to a 2019 Central Bank decision he attributes to Roberto Campos Neto authorizing the transfer of Banco Máxima’s control to Daniel Vorcaro, which he says originated Banco Master.
• Ongoing inquiries reported by Brazilian media examine an attempted purchase by Banco de Brasília (BRB), alleged frauds via investment funds, and alleged payments to influencers who attacked the Central Bank online.
• Lula said opponents are trying to pin responsibility for the losses on the PT and his government.
• Coverage notes that Roberto Campos Neto is not currently under investigation in the case.