A parliamentary inquiry commission in the São Paulo Legislative Assembly is investigating municipal pension funds' investments in Banco Master's financial letters, owned by banker Daniel Vorcaro, arrested on Wednesday (4) for suspected corruption and obstruction of justice. The 120-day commission targets pyramid schemes and losses to cities like Cajamar and São Roque. Revelations from Vorcaro's phone messages reveal ties to authorities across the three branches of government.
The Pyramid Schemes Parliamentary Inquiry Commission, established in the São Paulo Legislative Assembly (Alesp), elected Deputy Guto Zacarias (União Brasil) as president, Paulo Fiorillo (PT) as vice-president, and Leonardo Siqueira (Novo) as rapporteur on Wednesday (4). The aim is to probe fake investments, initially focusing on Banco Master operations. Zacarias filed a request to summon Vorcaro, to be voted on March 11.
Pension institutes from at least five São Paulo municipalities invested in the bank's papers: Cajamar (R$ 87 million), São Roque (R$ 93 million), Araras (R$ 29 million), Santo Antônio de Posse (R$ 7 million), and Santa Rita d’Oeste (R$ 2 million). Fiorillo stated: “It is essential to understand how these investments were made and if there was intent behind these operations, since Banco Master's investment funds have always been considered high-risk”.
Vorcaro and his brother-in-law Fabiano Zettel were arrested in the third phase of Operation Compliance Zero, by order of STF Minister André Mendonça, on suspicions of corruption, money laundering, and obstruction of justice. The Federal Police allege Vorcaro led a militia to coerce adversaries. Messages from his phone, obtained by the INSS CPI, reveal contacts with STF ministers like Alexandre de Moraes, congressional leaders like Hugo Motta and Ciro Nogueira, and President Lula. In a note, Vorcaro complained of being “rejected and humiliated” by the Central Bank, calling the Deorf “contaminated”.
Mendonça ordered Vorcaro's transfer to the Federal Penitentiary in Brasília, responding to a PF security request due to the suspect's influence. Vorcaro's defense denies obstruction and claims cooperation with authorities. In Congress, Senator Rogério Marinho (PL-RN) reiterates a call for a specific CPI on Master, amid resistance from the Chamber and Senate presidents.
