Banco de Brasília tried to buy Master, but the operation was canceled with the company’s liquidation by the Central Bank in November
A Federal Police opened an investigation to investigate the BRB bank for fraudulent management, involving the Master case. Information was confirmed this Tuesday (3) by Young Pan.
The Brasília bank tried to buy Master, but the operation was canceled with. In a note, BRB states that it found relevant data in a preliminary forensic audit report hired by the bank.
O BRB said it delivered the report to the PF last Thursday (29) and delivered the same document to the BC last Monday (3), in order to confirm any illegal acts.
The institution also states that it has adopted “numerous institutional measures” after an independent investigation to recover its credits and assets in relation to the losses caused by Operation Compliance Zero, which liquidated Master.
the former president of BRB, Paulo Henrique Costa, disagreed with Daniel Vorcaro, president of Master, about the origin of the bad credits acquired by the liquidated bank, in a confrontation with the Federal Police in December.
Last Monday (2), federal deputy Rodrigo Rollemberg (PSB-DF) from Banco Master.
The objective is to investigate a set of financial operations carried out between Banco Master and Banco de Brasília (BRB).
Understand
BRB had announced, in March 2025, the purchase of Master through a consortium led by Fictor Holding Financeira, which included investors from the United Arab Emirates and provided for an immediate contribution of R$3 billion. The operation had already been vetoed by the Central Bank and, with the settlement, any ongoing negotiations were automatically halted.
. He led the negotiations for the acquisition of the Master. The bank is a mixed economy financial institution, majority controlled by the Government of the Federal District, operating in the DF and eight other states.
Liquidation
The liquidations of Banco Master and investment manager Reag, determined on January 15, exposed one of the most serious episodes in the Brazilian financial system.
After identifying signs of financial irregularities and the serious liquidity crisis, the Central Bank ordered, in November, the extrajudicial liquidation of Banco Master S/A, Banco Master de Investimentos S/A, Banco Letsbank S/A and Master S/A Corretora de Câmbio, Títulos e Valores Mobiliários. On Wednesday (21), Will Bank, the digital arm of the Vorcaro conglomerate, also had its forced closure.
According to investigations, Banco Master offered Bank Deposit Certificates (CDB) with profitability well above the market. To sustain the practice, the financial institution began to take excessive risks and structure operations that artificially inflated its financial balance, while liquidity deteriorated.
The episodes involving Banco Master and the investment manager Reag, liquidated on January 15, are the most serious in the Brazilian financial system. The cases involve, in addition to fraud, tensions between the Federal Supreme Court (STF) and the Federal Audit Court (TCU), as well as with the Central Bank and the PF.
On Saturday (17), the FGC began the reimbursement process to creditors from Banco Master, Banco Master de Investimento and Banco Letsbank. The total amount to be paid in guarantees amounts to R$40.6 billion.
