The Minas Gerais team was informed that the banker, investigated for fraud at Banco Master, was the sole owner of Galo Forte Fundo de Investimento em Participações Multiestratégia
Banker Daniel Vorcaro lied to Atlético Mineiro about contributing R$300 million in investment to the club. Documents obtained by Young Pan show that the businessman claimed to be the sole owner of Galo Forte Fundo de Investimento em Participações Multiestratégia, a company he used to buy part of the team.
On January 8, 2025, the Atlético Mineiro questioned Vorcaro’s lawyers about who would be “the final beneficiaries of Galo Forte Investment Fund in Participations”, since the SAFs Law requires that the legal entity that holds a stake equal to or greater than 5% of the share capital of the Sociedade Anônima do Futebol must inform the latter of information about who “exercises its control or who is the final beneficiary”.
In response, it was informed that Vorcaro was the sole owner of Galo Fortemanaged by Trustee Distribuidora de Títulos e Valores Mobiliário, a company investigated by the Federal Police.
Between 2023 and 2024, Daniel Vorcaro invested R$300 million in Atlético-MGbeing R$100 million in 2023 and R$200 million in 2024, worth giving him 26.88% of Galo Holding SA
On October 21, 2025, when Operation Hidden Carbon came to light and in light of the news circulating that Galo Forte “would ultimately be controlled by funds (Hans95 and Olaf 95) that allegedly had some involvement in money laundering crimes”, He demanded explanations about the origin of the investment and the owners and gave a deadline of 48 hours for a return.
“The notifier now requests that you provide, within 48 hours, information about the shareholders of Galo Forte and, if there are shareholder funds other than Mr. Vorcaro, that information also be provided about these other funds”, says the document.
ATLÉTICO MINEIRO SAF’s defense also adds that “the failure to comply with the request will give rise to the adoption of all applicable extrajudicial and judicial measures to obtain the necessary information and documentation”.
By consulting the Securities and Exchange Commission (“CVM”) website, the Minas Gerais team verified that the information that Mr. Vorcaro would be the sole beneficiary of Galo Forte “is actually incorrect” and that the fund would have 2 subscribers “one individual and another investment fund”.
The individual shareholder appears with 79.49% of the shares, while the investment fund holds 20.51%.
Club response
In a note published on January 16, the Atlético-MG club informed that “the Galo Forte Fundo de Investimento em Participações Multiestratégia is a duly constituted and regular investment vehicle, operating in accordance with the legislation”, and that “the Club does not participate in the management of the fund, nor does it have any influence over its structure, shareholders or financial operations”.
The Minas Gerais team also highlights that “all contributions made to SAF followed legal procedures, applicable contractual and governance provisions” and that “Daniel Vorcaro was removed from the SAF Board of Directors last month, not performing any statutory, administrative or governance role at Atlético’s SAF.”
When contacted, Atlético-MG informed that There will be no additions to be made on this case.
A Young Pan contacted Vorcaro’s defense, but until the publication of this report he had not received a response.
Daniel Vorcaro is arrested in Brasília
Daniel Vorcarobusinessman and owner of Banco Master, was arrested on Wednesday (4) in São Paulo in the third phase of Operation Compliance Zero. This Friday (6), he was transferred to the Federal Penitentiary of Brasília, where he will be detained and isolated for 20 days. Before being sent, he had undergone analysis at the IML.
The banker was imprisoned in Potim, in the interior of São Paulo. THE transfer to the Brasília prison occurs after a decision by minister André Mendonça, rapporteur of the Master case at the Federal Supreme Court (STF), which responded to
According to the PF, the request is due to the physical integrity of the investigatedsince the law guarantees the decision. “Those for whom the measure is justified in the interests of public safety or of the prisoner himself, whether convicted or pre-trial will be included in maximum security federal penal establishments,” he argued.
*This text does not necessarily reflect the opinion of Jovem Pan.
