A company used by banker Daniel Vorcaro to hire “informal services” received R$1.3 million from Banco Master, show documents from the bank presented to the Federal Revenue obtained by GLOBO.
Varajo Consultoria was used, according to an investigation by the Federal Police, within a support structure for Vorcaro’s business and was responsible for hiring a consultancy service from the former head of Banking Supervision at the Central Bank (BC) Belline Santana, who is being investigated in the case and was removed from his role.
The Federal Police states that Varajo’s bank accounts served as a “transit account for illicit receipts”. In the decision determining Vorcaro’s arrest, last month, Minister André Mendonça, of the Federal Supreme Court (STF), stated that Varajo was used by the group commanded by Vorcaro to make payments to Santana.
“The elements collected indicate that Belline Santana received a simulated hiring proposal through the company Varajo Consultoria Empresarial Sociedade Unipessoal Ltda, structured with the purpose of justifying payments related to informal services provided to the controller of Banco Master. The proposal was sent by email to the person under investigation and discussed in communications maintained with members of the group, evidencing the use of a fictitious contractual mechanism to formalize financial transfers associated with the activities performed. For the services provided to the criminal structure, Belline received remuneration”, it says Mendonça’s decision.
The payments declared by the Master to the Revenue show that Varejo received funds directly from the Master’s cash flow. In 2025, there was a transfer of R$1 million, while in the previous year the Vorcaro institution paid R$309,800.
Santana’s defense states that he always carried out his activities in a “technical and, mainly, lawful manner, within legal limits, observing the prudential nature inherent to the aforementioned Authority in supervising the National Financial System”. The text also says that there was “no favoritism given to any Financial Institution, much less to Banco Master, with the hope that the contradictory regulations will be upheld in the competent bodies”. Finally, the note states that his activities at BC cannot be confused with other activities that are “equally lawful, with no misuse of purpose or obtaining of undue advantage”. When contacted, Vorcaro’s defense did not speak out.
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Varajo’s administration, according to the PF, received orders made by Fabiano Zettel, Vorcaro’s brother-in-law. Zettel, in turn, acted at the behest of Vorcaro.
“But see if Leo can pay. And we’ll reimburse you the next day. That’s very important,” says Vorcaro in a message to Zettel, in reference to a payment that would have Belline Santana as the beneficiary.
Last week, “Folha de S. Paulo” showed that an internal BC investigation showed that Santana received a total of R$4 million from Varajo, the result of contracts that in reality sought to simulate payments from Vorcaro’s group.
