Senate Economic Panel Forms Task Force on Banco Master Case as PF Details Sweeping Secrecy Breaks

Overview

• The Senate’s Economic Affairs Committee created a monitoring task force led by Renan Calheiros and composed of seven senators to call authorities, request information and propose legislation related to the Master probe.
• Newly disclosed court orders show Justice Dias Toffoli authorized bank and tax secrecy breaks for 101 people and entities from October 2020 to October 2025 and ordered asset freezes and seizures of up to R$5.7 billion for 38 targets, including Daniel Vorcaro, Fabiano Zettel, João Carlos Mansur and Nelson Tanure.
• Renan said the committee will seek documents from the Central Bank, CVM, Federal Police and TCU and criticized the TCU’s inspection of the Central Bank over Master’s liquidation, a move later suspended after backlash.
• Institutional frictions deepened as Toffoli’s handling of evidence custody and compressed interview timelines drew unease inside the Supreme Court and resistance from the Federal Police; he later allowed PF and the PGR to extract seized data and granted PF a 60‑day extension.
• Investigators allege Master used CDBs, captive and Reag‑managed funds to circulate illiquid assets and divert roughly R$5.7 billion to owners and associates, with O Globo reporting declared beneficiaries tied to Reag founder João Carlos Mansur; defenses denied wrongdoing or declined comment.