Founder and controller of Banco Master, he was arrested as part of Operation Compliance Zero, an investigation that investigates a scheme for issuing and trading false credit securities
The decision was made to maintain the banker’s arrest after a custody hearing held on Tuesday night (18). Vorcaro, founder and controller of Banco Master, was detained as part of Operation Compliance Zero, an investigation that investigates a scheme for issuing and trading false credit securities, involving several financial institutions in the National Financial System, including Banco de Brasília (BRB).
According to Vorcaro’s defense, lawyers are already preparing a habeas corpus to try to reverse the decision. In a statement, the defense reported that the banker was arrested on Monday night (17), in , when he tried to board a flight to Dubai. According to the lawyers, Vorcaro had recently announced the sale of Banco Master and was on his way to Dubai to meet with the institution’s buyers.
The defense also highlighted that, on the same day of his arrest, lawyers acting on behalf of Vorcaro and Banco Master made themselves available to the authorities to collaborate with the investigation, providing information and offering to participate in hearings, including the presence of Vorcaro, if necessary. Operation Compliance Zero is ongoing, and investigations continue to identify those involved in the financial fraud scheme.
