Vorcaro Remains in Custody as Central Bank Liquidates Banco Master

Overview

• The Polícia Federal detained Daniel Vorcaro after he went by helicopter to Guarulhos to leave the country, in an operation that issued seven arrest warrants and 25 search-and-seizure orders across the Federal District, Rio de Janeiro, São Paulo, Bahia and Minas Gerais.
• Vorcaro’s lawyers dispute that he intended to flee, saying the flight was bound for Dubai to meet prospective buyers of Banco Master.
• The Central Bank imposed temporary special administration and decreed the conglomerate’s liquidation, automatically suspending acquisition talks including a new Fictor Holding proposal after BRB declined an earlier bid.
• Authorities allege Banco Master sold false credit instruments promising unusually high yields, with suspected losses around R$12 billion, according to PF director-general Andrei Rodrigues.
• Recent reporting details a R$15 million 15th‑birthday party with performances by Alok, Dennis DJ and The Chainsmokers, and a reported R$300 million Trancoso villa now tied to a broker’s R$18 million commission lawsuit.