Vorcaro and ex-BRB president face confrontation at STF

Daniel Vorcaro, owner of Banco Master, and Paulo Henrique Costa, former BRB president, underwent a confrontation at the Supreme Federal Court due to contradictions in their statements to the Federal Police. The procedure took place on the night of December 30 and lasted nearly seven hours in total. The Central Bank's director, Ailton de Aquino, was excused from the confrontation.

On the night of December 30, the Supreme Federal Court (STF) hosted a confrontation between Daniel Vorcaro, controller of Banco Master, and Paulo Henrique Costa, former president of Banco de Brasília (BRB), as part of the investigation into the bank's scandal. Individual statements, taken by Federal Police delegate Janaína Palazzo, began at 2 p.m. and revealed discrepancies that justified the joint confrontation.

Vorcaro was the first to testify, speaking for nearly three hours, while Costa and Ailton de Aquino, the Central Bank's (BC) Fiscalization Director, waited. Costa gave his statement from around 5:30 p.m. for about two hours, followed by Aquino until approximately 9 p.m. The confrontation, involving only Vorcaro and Costa, ended at 9:35 p.m., with an auxiliary judge from Minister Dias Toffoli's office, the case's rapporteur, present.

The process has been confidential since early December, under Toffoli's oversight. The probe examines the attempted sale of Master, which allegedly involved forging R$12.2 billion in payroll loan portfolios sold to BRB — R$6.7 billion in fake contracts and R$5.5 billion in premiums. The bank was liquidated on November 18, and Vorcaro was imprisoned for 12 days, now wearing an electronic ankle monitor.

Entities like Febraban and ABBC defended the BC's independence in a joint statement, emphasizing the role of technical regulators. Vorcaro's defense denies seeking to annul the liquidation, arguing the case reached the STF due to a deputy's privileged forum. Recently, court officials sought liquidator Eduardo Félix Bianchini, but Toffoli's office denied responsibility for the summons. A decision from Toffoli is expected soon.

Makala yanayohusiana

Illustration of banker Daniel Vorcaro denying fraud to Federal Police at STF amid financial documents.
Picha iliyoundwa na AI

Vorcaro denies fraud in Banco Master credits to PF

Imeripotiwa na AI Picha iliyoundwa na AI

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.

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.

Imeripotiwa na AI

Following the STF confrontation between Banco Master's controller Daniel Vorcaro and ex-BRB president Paulo Henrique Costa, the scandal deepens with TCU scrutiny of the Central Bank and new revelations of political ties and massive fraud risks. Experts urge full transparency to restore institutional trust.

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.

Imeripotiwa na AI

STF Justice André Mendonça ordered greater transparency in the Banco Master case by mandating the delivery of ex-banker Daniel Vorcaro's data to the INSS CPI and the Federal Police. The ruling makes Vorcaro's attendance at the commission optional and reduces risks of evidence tampering. Meanwhile, reports of parties hosted by Vorcaro with authorities heighten suspicions of undue influence in power structures.

At least 46 online profiles have launched coordinated attacks against Brazil's Central Bank and investigators in the ongoing Banco Master scandal, intensifying amid legal battles including a recent STF confrontation. Gossip influencers are posting biased content criticizing the regulator's veto of BRB's acquisition and the bank's liquidation.

Imeripotiwa na AI

The STF's Second Panel ruled 4-0 to uphold the preventive detention of Banco Master owner Daniel Vorcaro on Friday (March 20). Justice Gilmar Mendes sided with rapporteur André Mendonça but criticized the reasoning as using 'porous and elastic' terms. The ruling comes amid Operation Compliance Zero probing financial frauds.

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