José Trajano to be indemnified by Bradesco after scam

Journalist José Trajano, founder of ESPN Brasil, won a first-instance court case against Banco Bradesco. The court ordered the bank to restitute R$ 34,799.99 lost in a scam and pay R$ 5,000 in moral damages. The December 2024 decision is subject to appeal.

José Trajano, a 79-year-old sports journalist and founder of ESPN Brasil, fell victim to a scam in February 2025 when his stepdaughter's phone was stolen. The stepdaughter, who managed his bank accounts due to his age, enabled criminals to drain the account through PIX transfers and investment withdrawals. The operations involved at least three transfers between R$ 4,900 and R$ 10,000.

On December 19, 2024, the São Paulo Court of Justice ruled against Bradesco, ordering it to restitute the updated amount of R$ 34,799.99, plus R$ 5,000 in moral damages and legal costs. The judge noted that the transactions did not match the profile of a 79-year-old client, which the bank should have verified before approval.

Bradesco's defense denied security flaws in the app, blaming the victim exclusively. However, the magistrate held the bank contractually liable for the restitution. Trajano told the court that the funds were withdrawn one day after the phone theft on February 16, 2025.

The bank has not commented on the ruling, which is appealable. The case underscores financial institutions' duties in preventing fraud, particularly for out-of-pattern transactions.

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Dramatic courtroom illustration of Banco Master scandal depositions revealing vast asset discrepancies and blocked payments.
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Banco Master investigations advance with depositions and blockages

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The Supreme Federal Court released depositions in the Banco Master inquiry, revealing serious irregularities such as only R$ 4 million in cash despite R$ 80 billion in assets. Meanwhile, INSS blocked R$ 2 billion in payments due to unproven loan contracts, and the Credit Guarantee Fund continues reimbursements to investors.

The defense of banker Daniel Vorcaro, arrested last week while attempting to flee to Abu Dhabi, denied the existence of a R$ 12.2 billion fraud involving Banco Master. Lawyers claim the bank acted in good faith, substituting problematic credit portfolios sold to BRB and registering operations with B3. The Federal Police and Central Bank, however, point to evidence of forged payroll loans, leading to the institution's extrajudicial liquidation.

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Daniel Vorcaro, owner of Banco Master, denied to the Federal Police having defrauded credit portfolios worth R$ 12.2 billion sold to BRB, claiming he did not know which were good or bad. The portfolios, acquired from Tirreno consultancy, allegedly originated from payroll loans via Bahia public server associations, but indications point to forgery to inflate the bank's balance. The testimony took place on December 30, 2025, at the STF, under the rapporteurship of Dias Toffoli.

Police found a note in an ex-BRB director's agenda suggesting the bank's former president tried to save Banco Master through credit portfolio purchases. Paulo Henrique Costa denied irregularities in his deposition, stating operations aimed to replace assets and protect BRB. Investigations reveal potential losses of up to R$ 5 billion for the state bank.

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Banker Daniel Vorcaro, owner of Banco Master, declared R$570 million income to Brazil's Federal Revenue in 2024, receiving a R$28,000 income tax refund. The data, obtained by Folha and sent to the joint INSS CPI, show a R$1.23 billion asset jump during the period, amid probes into frauds at the liquidated bank.

Following his January 22 defense of the STF's handling, President Edson Fachin issued a January 25 statement slamming media coverage of the Banco Master fraud case as an attack on the court's authority and democracy. The move has ignited debate, with columnists decrying it as shielding judges amid reported irregularities like contracts and personal ties.

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The Regional Federal Court of the 1st Region ordered on Friday, November 28, 2025, the release of Daniel Vorcaro, owner of Banco Master, and four other directors, with ankle monitor use and other precautionary measures. Desembargadora Solange Salgado da Silva's decision will be enforced on Saturday, 29. Vorcaro was arrested on November 17 during Operation Compliance Zero, probing frauds of about R$ 12.2 billion in fake credit titles.

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