The Bank of Brasília (BRB) announced the resignation of two fiscal council members whose indications were attributed to a fund linked to the Reag manager, liquidated by the Central Bank. Leonardo Roberto Oliveira de Vasconcelos and Celivaldo Elói Lima de Sousa claim no knowledge of the link to the Borneo fund. The resignation was reported as a material fact on February 13, 2026.
The Bank of Brasília S.A. (BRB) disclosed on February 13, 2026, as a material fact, the receipt of resignation requests from Leonardo Roberto Oliveira de Vasconcelos, titular member of the Fiscal Council, and Celivaldo Elói Lima de Sousa, alternate member. The two's indications for the positions were attributed to the Borneo fund, which holds 3.1% of BRB's capital and was managed by Reag Investimentos, extrajudicially liquidated by the Central Bank on January 15, 2026, for non-compliance with National Financial System regulations.
The councilors' indication by Borneo was recorded in the minutes of a BRB shareholders' meeting in March 2025. In the resignation letter, Vasconcelos and Sousa state they only learned of the attribution on February 11 and deny any ties to the fund. "I further declare that I have no affiliation, relationship, or knowledge regarding the aforementioned fund, nor do I know its representatives or administrators," one of them stated in the document.
In early February 2026, BRB updated its reference form with the Securities Commission (CVM), reporting that João Carlos Falbo Mansur, founder and former chairman of Reag's board, became one of its main shareholders. Mansur was a target of Operation Carbono Oculto, which investigates organized crime's links to the financial market for money laundering, and Operation Compliance Zero, which probes irregularities at Banco Master through Reag.
Banco Master, linked to Reag and controlled by Daniel Vorcaro, was extrajudicially liquidated by the Central Bank on November 18, 2025, due to alleged billion-dollar financial frauds, a claim denied by the bank's defense. The Borneo fund is identified as part of a web of hidden stakes in Master and Vorcaro. Additionally, Vorcaro, Mansur, and Maurício Quadrado became BRB shareholders through investment funds during the 2024 stock offering that raised R$ 1 billion. An audit at BRB, set up to investigate the Master operation, casts suspicion on former managers of the Distrito Federal bank, raising questions about capital expansion to facilitate business with Master.
