PF Widens Banco Master Probe as Senate Sets Oversight Group and Scrutiny of STF Grows

Overview

• The second phase of Operation Compliance Zero includes a Dias Toffoli order from January 6 lifting banking and tax secrecy for 101 people and entities for 2020–2025, with asset blocks for 38 targets up to R$5.7 billion.
• Named targets in the freezes include Banco Master owner Daniel Vorcaro, his brother‑in‑law Fabiano Zettel, Reag founder João Carlos Mansur, former partner Maurício Quadrado and investor Nelson Tanure.
• The Senate’s Economic Affairs Committee created a non‑CPI monitoring group that can request documents, summon officials and propose laws but cannot break secrecy, with chair Renan Calheiros signaling requests to BC, TCU, CVM and PF.
• Institutional friction persists as STF minister Toffoli’s handling of seized materials and interrogation schedules drew internal criticism and PF pushback; he later allowed PF/PGR to extract evidence and extended the PF deadline by 60 days.
• Parallel fronts advance with Alexandre de Moraes opening an inquiry into possible leaks of ministers’ data from Receita or Coaf, and PF asking Toffoli to investigate an alleged coordinated influencers campaign to defend Master and attack the Central Bank.