Federal Police investigation identified the businessman as a ‘hidden partner’ of Banco Master
A Federal Police investigation (PF) about alleged fraud involving Banco Master appointed businessman Nelson Tanure as a hidden partner of the financial institution. His name became popular again after the corporation finds an exchange of messages with banker Daniel Vorcaroin which the investor was grateful for having won an imported luxury watch, estimated at up to R$1 million.
“Having lunch with friends, with the jewel on my arm that you gave me. Thanks (Thank you, in English)”, wrote Tanure to the Master’s owner. .
. The PF approached the businessman at Galeão Airport, in Rio de Janeiro, as he was preparing to board a flight to Curitiba, Paraná. At the time, the corporation seized the investor’s cell phone.
. The businessman said it was “surprised” by the “personal search request” issued by the Federal Supreme Court (STF). He also denied having been “controller of the extinct Banco Master” and partner“even if a minority, directly or indirectly”.
Tanure also communicated that had no indirect corporate links “through options, financial instruments, debentures convertible into shares or any equivalent mechanisms”. “We maintained strictly commercial relations with the aforementioned bankalways as a client or investor, just as we do with other financial institutions in Brazil and abroad”, stated the businessman.
Who is Nelson Tanure
The businessman is known for investing and betting on large restructuring projects for companies in crisis.. Nelson Tanure owns businesses in the oil and gas, energy, healthcare, telecommunications, real estate and financial sectors. He has stakes in the companies Light, Alliança Saúde, Gafisa, Prio (ex-PetroRio), Tim Brasil, Sequip, Ligga Telecom and Docas Investimentos.
On his LinkedIn profile, Tanure says he considers himself a “marketer”. He still presents himself as “someone for whom achievement is everything, possession is nothing”.
Nelson Tanure was born in 1951, in Salvador, Bahia. In 1974, he completed a business administration course at the Federal University of Bahia (UFBA). He began his career at his father’s real estate company. In the 1980s, he started investing in companies in crisis.
Tanure too worked on the restructuring of the Emaq Group. In the 2000s, the businessman still took control of the Brazilian newspaper and, subsequently, the Mercantil Gazette.
In 2004, President Luiz Inácio Lula da Silva (PT) admitted Nelson Tanure to Order of Military Meritto the degree of Special Knight.
Understand the Master case
After identifying signs of financial irregularities and the serious liquidity crisisthe Central Bank determined, on November 18, 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, Will Bank, the digital arm of the Vorcaro conglomerate, .
The Banco Master liquidation process was accompanied by Operation Compliance Zero. Also on November 18, the PF launched the first phase of the action to combat the issuance of false credit securities by institutions that are part of the National Financial System (SFN). Faced with the possibility of escape, Vorcaro was arrested the day before. The banker was later released using an electronic ankle bracelet. .
According to investigations, Vorcaro’s financial institution offered Bank Deposit Certificates (CDB) with profitability well above the market. To sustain the practice, Banco Master started taking excessive risks and structuring operations that artificially inflated its financial balancewhile the liquidity deteriorated.
The episodes of settled on January 15th, are the most serious problems in the Brazilian financial system. The cases involve, in addition to fraud, tensions between the STF and the 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.
