Minister decided to step away from the investigation after the Federal Police sent a report to Fachin about an examination carried out on Vorcaro’s cell phone, where summonses to the magistrate were found
Minister Dias Toffoli, of the Federal Supreme Court (STF), left the rapporteur of the Banco Master investigation this Thursday (12). The removal took place after the Federal Police (PF) sent the President of the Court, Edson Fachin, a report on the investigation carried out on the cell phone of the owner of the financial institution, Daniel Vorcaro.
The court ministers met after the session and spoke behind closed doors. The meeting ended around 8:30 pm and Toffoli’s announcement followed. THE Young Pan found that the minister argued with his colleagues that he saw no reason to stop reporting on the case, but found himself isolated and ended up giving in to his colleagues. The assessment of court ministers is that the minister’s actions in the case have caused unnecessary strain on the Supreme Court.
In a note signed by the 10 ministers of the STF, they had declared that the accusations were “not a suitable case for the allegation of suspicion” and recognized the validity of the acts carried out by Minister Dias Toffoli in the report. However, at the end of the note, they inform that, with Toffoli’s decision, the “Presidency will adopt the necessary procedural measures to extinguish the AS and send the files to the new Rapporteur”. Distribution is scheduled to take place this Thursday.
In the document sent to Fachin, . For this reason, the PF asked the president of the STF to raise suspicion of Toffoli. In other words, that the minister is declared a “suspect” to act in the process. However, this request can only be made by the Attorney General of the Republic, Paulo Gonet.
In a note issued by the office, Toffoli said on Wednesday (11) that the request “is a matter of conclusions”. Based on article 145 of the Code of Civil Procedure, the judge also argued that the corporation “does not have legitimacy” to make the request. He further stated that, regarding the content of the report, “the response will be presented to the president of the Court”.
Payments to Toffoli’s company
According to the PF report, Vorcaro and his brother-in-law Fabiano Zettel exchanged messages in which . Toffoli and his two brothers are partners in the company.
In the messages, both Vorcaro and Zettel mention the surname Toffoli by name. The payments would refer to the purchase of Tayaya Resort, in which Maridt was part of the corporate structure. Details of the report were published by the newspaper Folha de S. Paulo and confirmed by Young Pan.
This Thursday (12), Toffoli’s office issued a new note about the minister’s links with Maridt Participações and alleged links with Vorcaro. In the statement, the judge denied having “any friendly relationship, much less an intimate friendship” with the banker. He also said he “never received any money” from the banker or Zettel.
Regarding Maridt Participações, Toffoli declared that it was a “family company constituted as a privately held corporation”. Supported by the Organic Law of the Judiciary, the minister said that he is part of the company’s membership, but the administration is carried out by his family members.
The judge also reported that the company was part of the Tayaya Ribeirão Claro group until February 21, 2025. In a note, Toffoli stated that this participation was terminated through “two successive operations, the first being the sale of shares in the Arllen Fund, on September 27, 2021” and the second, to PHD Holding, on the date of the end of the relationship with the resort.
“The action relating to the purchase of Banco Master by Banco de Brasília (BRB) was distributed to minister Dias Toffoli on November 28, 2025. In other words, when Maridt was no longer part of the Tayaya Ribeirão Claro group”, the office announced.
Understand the case of Banco Master
After identifying signs of financial irregularities and the serious liquidity crisis, the Central Bank determined, in November 2025, 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 January 21, Will Bank, the digital arm of the Vorcaro conglomerate, .
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 of settled on January 15, are the most serious in the Brazilian financial system. The cases involve, in addition to fraud, tensions between the STF and the Federal Audit Court (TCU), as well as with the Central Bank and the PF.
On January 17, the Credit Guarantee Fund (FGC) began the from Banco Master, Banco Master de Investimento and Banco Letsbank. The total amount to be paid in guarantees amounts to R$40.6 billion.
