PF Says Ex‑Governor Directed BRB Strategy to Enable Banco Master Takeover
Investigators told the Supreme Court that messages from key actors plus a January 23 Zurich meeting show political control of a state bank, signaling institutional capture.
Overview
- Police filed new reports with the Supreme Court on October 9, 2026 concluding that former Federal District governor Ibaneis Rocha played a direct role in BRB's strategy to acquire Banco Master.
- The PF says a January 23, 2025 meeting in Zurich between Ibaneis, Banco Master owner Daniel Vorcaro, BRB president Paulo Henrique Costa and a fourth interlocutor marked the start of the acquisition process.
- From October 2024 through February 2025 BRB bought R$9.52 billion in credit portfolios from Banco Master, a sequence the PF describes as preparatory steps that enabled the takeover attempt.
- Investigators allege the deal used investment funds named Borneo, Verbier and Delta to hide who would control Master and to fold the bank into BRB’s shareholding without formal disclosure.
- Two key figures, Paulo Henrique Costa and Daniel Vorcaro, are in custody while Ibaneis’s legal team reviews the reports and the case moves to prosecutors and the Supreme Court for possible charges and judicial action.