President Luiz Inácio Lula da Silva (PT) received businessman Daniel Vorcaro, controller of Banco Master, at the Palácio do Planalto, in December 2024, in a meeting that was not recorded on the official agenda of the Presidency.
The meeting, confirmed by Metropolises and by UOLwas revealed amid deepening investigations into an alleged scheme to sell non-existent assets involving the private bank and Banco de Brasília (BRB).
According to reports from government members, Vorcaro arrived at Planalto accompanied by former minister Guido Mantega and businessman Augusto Lima, a former partner at the bank. Before meeting with Lula, the group visited the office of Marco Aurélio Ribeiro, known as Marcola, head of the president’s personal office and directly responsible for organizing the agenda. The Presidency’s Social Communication Secretariat did not comment on the episode.
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Also participating in the meeting was Gabriel Galípolo, recently appointed by Lula as president of the Central Bank, a position he would officially assume on January 1, 2025. When contacted, the BC informed that it would not comment on institutional commitments for the transition period.
According to interlocutors interviewed by the vehicles, Vorcaro used the meeting to raise concerns about the market environment and the situation at Banco Master. Lula, according to these versions, would have stated that any matter related to the institution should be dealt with exclusively within the technical scope of the Central Bank, without direct political interference from the Palácio do Planalto.
Political pressure and institutional noise
Despite this formal guidance, the case began to generate internal discomfort in the government. As shown by Folha de S.PauloLula demonstrated irritation, in private conversations, with the conduct of the investigation at the STF, under the report of Minister Dias Toffoli. Second The Globepresident and minister even met to discuss the topic, amid criticism of the degree of secrecy imposed on the process.
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The surroundings of Banco Master also amplified the political noise. Vorcaro maintains relationships with figures from the center, such as the governor of the Federal District, Ibaneis Rocha (MDB), mentioned in recent statements. Augusto Lima now has transit on PT da Bahia. According to reports collected by the press, the Chief Minister of the Civil House, Rui Costa, would have participated in the meeting at Planalto. The Civil House did not comment.
BRB case and financial impact
Investigations carried out by the Federal Public Ministry and the Federal Police indicate that Banco Master sold around R$12.2 billion in non-existent credit portfolios to BRB. According to investigators, the operation would have been used to try to support the private bank, which was facing a serious liquidity crisis. Former executives from both institutions have already been summoned to give testimony.
The potential hole in the BRB is estimated at R$4 billion. The episode led the Central Bank to decree the extrajudicial liquidation of Banco Master on November 18, increasing the systemic impact of the case and placing the episode on the financial market’s radar.
