The owner’s testimony Banco Master, Daniel Vorcaroprovided on December 30th, had its contents revealed on Friday (23rd).
The hearing took place as part of a case investigating fraud linked to the bank.
Among the topics covered are the relationship with the governor of the Federal District, (MDB), the FGC (Credit Guarantee Fund) as a business model, the attempt to sell the institution to the BRB (Bank of Brasília) and criticism of BC (Banco Central).
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Vorcaro cites Ibaneis and admits liquidity problems
Daniel Vorcaro told the PF that if the sale of Banco Master to the BRB. According to him, the meetings took place between 2024 and 2025, both at his residence and at the governor’s house, in Brasília.
“He’s been to my house, if I’m not mistaken, once. I’ve been to his house, and we’ve only met a few times. Institutional conversations”, he said.
Vorcaro denied “any attempt at political interference in the supervision of the Central Bank” and admitted that the bank was facing liquidity problems. According to him, the institution used the FGC as a central part of its business model, but the situation was being corrected.
Bank had a model 100% based on the FGC
The banker stated that the business plan of the Master was and defended the strategy.
“Banco Master’s business plan was 100% based on the FGC and there was nothing wrong with that. That was the rule of the game”, he declared.
The FGC is responsible for guaranteeing deposits and credits from account holders and investors in the event of intervention or liquidation of financial institutions.
Billion-dollar operation exposed internal weaknesses
of the bank in a billion dollar operation involving payroll loan portfolios from the company Tirreno.
According to him, the acquisition of credits already originated by third parties on a large scale was unprecedented for Master and occurred in the midst of negotiations for sale to BRB, which increased the risk of the operation.
When questioned, the banker said he did not know the origin of the portfolios considered fraudulent and unbacked, traded with . He stated that Tirreno acted as an intermediary and that the bank only carried out compliance analyses.
“In practice, the bank had no interference nor was it concerned about it,” he stated.
Negotiation with BRB and criticism of the Central Bank
Vorcaro stated that the negotiation for the sale of the vehicle, which, according to him, does not justify the public exposure of the case. “The loss, in the end, was not just mine, it was the financial system’s,” he declared.
The banker said he had been the target of excessive scrutiny. According to him, the authority’s decision, in November 2025, made a market solution unfeasible and led to the bank’s liquidation.
Still according to Vorcaro, there were internal differences at the Central Bank between areas that defended a market solution and others that opted for the institution’s liquidation.
Banker denies political influence and escape attempt
When asked about politicians who frequented his house, he stated that his personal relationships had no connection with the case.
He also refuted the accusation of being influential in Brasília.
“If I had so much influence, I wouldn’t have been denied BRB operations, nor would I have been,” he said.
Regarding the planned trip to Dubai, the banker stated that the trip was unrelated and that the Central Bank was informed in advance. According to him, the interpretation was “taken out of context”.
