The Federal Police arrested businessman Daniel Vorcaro, owner of Banco Master, on Tuesday (18/11) during an operation investigating alleged fraud involving institutions of the National Financial System. The investigation points to signs of fraudulent management, reckless management, and other practices considered criminal under banking legislation.
According to the investigations, the group would have participated in the creation and circulation of inconsistent credit securities, raising suspicions about the real backing of these assets and their impact on the banking market.
How the scheme worked according to the Federal Police
The investigations began based on information indicating the issuance of credits considered irregular. According to the records, the documents circulated among financial institutions without adequate technical evaluation. The objective was to artificially improve the asset situation of these companies.
Reports attached to the investigation suggest that the production of these securities may have been used to mask risk operations, raising concerns about client exposure and the potential imbalance of the institutions involved.
Vorcaro is detained in São Paulo
The arrest of the businessman occurred at his address in the São Paulo capital. Teams executed search and seizure warrants related to the case. The agents took documents, electronic devices, and internal records of companies linked to the banker.
The records forwarded to Justice include elements that, according to investigators, justified the arrest for an indefinite period until all aspects of the case are analyzed.
Central Bank liquidates Banco Master
Hours after the operation, the Central Bank announced the extrajudicial liquidation of Banco Master. The decision came after the regulator found evidence of serious irregularities, which made it impossible to continue the institution's operations.
The measure immediately ends the bank's activities and transfers to the federal intervener the responsibility for investigating the asset situation, assessing losses, and conducting the applicable legal proceedings.
Impacts and next steps
The arrest of the controller and the liquidation of the institution raise questions about the quality of banking supervision mechanisms in the country. The case also reignites debates about transparency, governance, and management practices in the Brazilian financial sector.
Authorities claim that new actions may occur as the accounting analyses and collected testimonies progress.
The BC article decrees the liquidation of Banco Master; Owner is arrested was seen for the first time in BeInCrypto Brazil.