Supreme Court Justice Alexandre de Moraes denied pressuring the Central Bank president in favor of Banco Master, embroiled in billion-dollar frauds. Reports indicate contacts between Moraes and Gabriel Galípolo, but both claim the meetings addressed the Magnitsky Act. The case has spotlighted judiciary ties and calls for investigation from opponents.
The Banco Master scandal, controlled by Daniel Vorcaro, erupted in November 2025 when Federal Police arrested the banker in São Paulo, accusing him of R$12 billion frauds in Operation Compliance Zero. The Central Bank decreed the bank's extrajudicial liquidation on November 18, potentially requiring record payouts from the Credit Guarantor Fund, between R$40 billion and R$50 billion.
The attempt to acquire 58% of Master shares by BRB, announced in March, was blocked by Public Ministry and Court of Accounts probes, ending in BC rejection in September. Vorcaro was released on November 29 with an electronic anklet, following a TRF-1 ruling.
The case took judicial turns with STF ministers' actions. On November 28, Dias Toffoli flew private to Lima, Peru, with a bank director's lawyer to watch the Libertadores final between Flamengo and Palmeiras. Toffoli took the inquiry on December 2, placing it under high secrecy, and ruled on December 3 that proceedings be evaluated by him. On December 15, he allowed resumption of investigations with hearings within 30 days but kept seized materials in his office.
An O Globo report on December 22 revealed Alexandre de Moraes contacted Gabriel Galípolo at least four times, including a July in-person meeting, to address Master's situation. Moraes' family-linked firm held a R$3.6 million monthly contract with the bank, totaling R$129 million until 2027.
Moraes issued a note on December 23 denying pressure, stating meetings were about Magnitsky Act effects. The BC confirmed, saying it "held meetings with the minister [...] to address the effects of applying the Magnitsky Act." Readers and columnists demanded transparency: "If Moraes is telling the truth, he needs to prove it," wrote Aparecida Alves. Bolsonarists like councilor Lucas Pavanato called for probe: "It's one of the biggest scandals in history involving a Supreme Court minister."
On December 16, over 200 figures urged an STF code of conduct amid reports on ministers' Master ties. President Edson Fachin said dialogue would guide an ethics code's creation.