Initially, the hearing was scheduled for Thursday (26), but was rescheduled after the Commission meeting
The INSS CPI advanced to next Monday (23)at 4 pm, the hearing of the president of Banco Master, Daniel Vorcaro. Initially the testimony was scheduled for Thursday (26), but it was rescheduled after a meeting between the president of the commission, senator Carlos Viana (Podemos-MG), and other members of the panel.
The ICC Deputy Chair, federal deputy Duarte Jr (PSB-MA)made a publication on the social network X communicating the advance of the statement. “In a meeting with the president of the INSS CPMI, senator Carlos Viana, the hearing of the banker and president of Banco Master, Daniel Vorcaro, was defined,” he wrote. The deputy also said that Brazil awaits answers and that “the truth will emerge”.
Confirmed! In a meeting with the president of the INSS CPMI, senator, the hearing of the banker and president of Banco Master, Daniel Vorcaro, was decided.
Monday, February 23rd, at 4pm, at CPMI at INSS.
Brazil wants answers. The truth will come out!— Duarte Jr 🇧🇷 (@DuarteJr_)
Vorcaro must also testify at the CAE (Economic Affairs Committee) of the Senate on Tuesday (24). As the banker is in São Paulo under house arrest, he will be escorted by the Federal Police (PF) to Brasília.
INSS CPMI
Installed on August 20th, the INSS CPMI held 29 meetings until December 4th and resumed work on February 5th. This year the commission’s work will be focused on analyzing fraud in payroll loans, with suspicions of harassment, concession without consent and fraudulent renewals that generated unpayable debts. In 2025, the committee heard 26 witnesses, including Antônio Carlos Camilo Antunes, who became known as the “Careca do INSS”.
The commission’s rapporteur, deputy Alfredo Gaspar (União Brasil-AL), described Antunes as “author of the biggest robbery of retirees and pensioners in the history of Brazil”. According to data collected by CPMI, the “Careca no INSS” would be the operator of the scheme and would have generated R$24.5 million in five months. Several summonses chose to remain silent, supported by habeas corpus. Other witnesses, according to the senators, lied when providing clarifications.
Master Case
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/ABanco Master de Investimentos S/A, Banco Letsbank S/A and Master S/A Corretora de Câmbio, Títulos e Valores Mobiliários.
On January 21, the Will Bankthe 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 structuring operations that artificially inflated its financial balance sheet, while liquidity deteriorated.
