Documents obtained by Jovem Pan News show transfers of USD 68.9 million to an account in the USA between 2021 and 2023; bank left a gap of R$41 billion in the FGC
The owner of Banco Master, Daniel Vorcaro, arrested for the second time this week by the Federal Police, spent at least USD 68.9 million — more than R$390 million at current prices — on private parties, yachts, rented islands and luxury family trips between May 2021 and August 2023. value was transferred via international wires to an events company based in FloridaSignature Luxury Services LLC. The documents proving the movements were obtained exclusively by Jovem Pan News.
In the same period, the Banco Master raised billions of reais in CDBs from individual and institutional investorssecurities guaranteed by the Credit Guarantee Fund. When the Central Bank decreed the institution’s extrajudicial liquidation, in November 2025, the FGC estimated a disbursement of R$41 billion to cover the guarantees — the largest in the fund’s history. Around 1.6 million customers were affectedincluding the Rioprevidência pension fund (R$970 million), Oncoclínicas (R$433 million) and CEDAE (R$200 million).
The largest single expense recorded in the documents is a private party held in September 2023 in Taormina, Sicily. The event cost at least USD 25 million. For the occasion, Vorcaro signed Coldplay for USD 11.4 millionMichael Bublé for USD 2 million, Andrea Bocelli for USD 958 thousand, Seal and David Guetta for around USD 915 thousand each, in addition to other artists. You guests were accommodated in three fully booked hotels: the Four Seasons San Domenico Palace, the Belmond Grand Timeo and the Belmond Villa Sant’Andrea, with a total cost of more than EUR 3 million.
The technical production of the event consumed more than EUR 11.5 million in advances. A logistics company received EUR 381,000 just to coordinate the planning, which included an exclusive app for guests. THE event was prepared over more than a yearwith four inspection trips to the site between August 2022 and January 2023.
The other documented expenses cover a circuit of high-end destinations. In April 2021, Vorcaro rented a yacht in the Maldives and traveled with his family to Zimbabwein an operation that totaled around USD 2 million. In July of the same year, he booked the private island of Little Pipe Cay, in the Bahamas, for six nights, at USD 50,000 per night, including a birthday party.
Document obtained by Jovem Pan News
In September 2021, the family occupied a 12-suite villa in Mykonos and chartered the historic yacht M/Y Christina O for a route between the Greek islands. In January 2022, we rented six suites at Le K2 Palace in Courchevel for 13 nights, with private ski instructors, drivers and dedicated security staff. In the same month, he traveled to Marrakech and stayed at the Royal Mansour.
In April 2023, Vorcaro organized a sequence of events in Rome, Venice and Capri that cost around USD 7 million. Spanish singer C. Tangana was signed for EUR 1.35 million, Ja Rule for USD 280 thousand and DJ Black Coffee for EUR 277 thousand. The Venetian hotel The Venice Venice was booked entirely for EUR 470,000. In August 2023, on the eve of the bank’s liquidation, another event was held in Brazil with The Chainsmokers (USD 1.32 million) and DJ Alok (EUR 280 thousand), in addition to a contract with Dolce & Gabbana Alta Costura for EUR 400 thousand.
Os payments were made in international transfers that reached USD 10.9 million in a single operation, in August 2023 — the month in which the Central Bank was already pressuring Vorcaro to capitalize the institution. In total, the documents record at least 21 large transfers in the period.
Document obtained by Jovem Pan News
The Operation Compliance Zero investigations, supervised by Minister André Mendonça, of the STF, investigate financial fraud, money laundering and criminal organizations. In the second phase of the operation, launched on Wednesday (4), Vorcaro was arrested on suspicion of hiding more than R$2.2 billion, transferred to his father’s account at Reag Investimentosand for maintaining a private surveillance and intimidation structure — nicknamed “The Gang” — used to monitor journalists and former employees. According to the PF, the banker even ordered a simulation of a robbery to physically attack a reporter who was covering the case.
Vorcaro’s defense categorically denies the conduct attributed to him. It states that Banco Master was solvent and that the crisis was one of liquidity, caused by regulatory changes and reputational attacks. It also says that all operations with Banco de Brasília were technical and audited.
*This text does not necessarily reflect the opinion of Jovem Pan.
