Toffoli Keeps Dec. 30 Confrontation in Banco Master Probe, Affirms BC Director Is Not a Target

Overview

• The STF relator maintained an acareação for Tuesday at 2 p.m. by videoconference between Banco Master owner Daniel Vorcaro, former BRB president Paulo Henrique Costa, and Central Bank supervision director Ailton de Aquino.
• Dias Toffoli clarified that neither the Central Bank nor its director is under investigation, calling Aquino’s participation of “special relevance” to clarify facts under the regulator’s scrutiny.
• The Procuradoria-Geral da República sought to suspend the session as premature, but Toffoli rejected the request and kept the proceeding under judicial secrecy.
• The Central Bank’s bid for clarifications was denied, and, according to reporting, the institution is evaluating a mandado de segurança to contest the director’s inclusion.
• The case stems from alleged large-scale fraud tied to Master’s credit portfolios and a thwarted deal with BRB, which triggered Operation Compliance Zero and the bank’s liquidation, with exposure estimates reported between roughly R$12 billion and R$17 billion; financial associations defended BC autonomy, and BC auditors warned the acareação risks undue pressure on technical staff.