PT president, Edinho Silva, refuted this Monday the statement by Gabriel Galípolo, president of the Central Bank (BC), who stated that he had found no evidence that his predecessor Roberto Campos Neto had acted to favor Banco Master and Daniel Vorcaro. Edinho stressed that, as there are ongoing investigations at the Federal Police and the Public Ministry, the BC must also maintain its own investigations into the previous administration. The party leader also defended that, if fraud is confirmed, the responsibility will lie with both Campos Neto and former president Jair Bolsonaro, who is responsible for the appointment.
In an interview with Record News, Edinho stated that he had “a lot of respect” for the work of Galípolo, of whom he highlighted that he was a personal friend, but assessed that the institution’s president’s position is “out of context”. Daniel Vorcaro, owner of Master, took control of the bank at the beginning of Campos Neto’s term, in October 2019.
— Banco Master was authorized to operate during the Bolsonaro government, under Campos Neto, with several operations authorized by the Central Bank. If the Master exists and caused fraudulent operations, the responsibility lies with the Bolsonaro government and Campos Neto — said Edinho. — In this scenario, how can you exempt someone? — he questioned.
Galípolo’s statement took place last Wednesday, when he appeared at the Organized Crime CPI. He was asked by the president of the commission, Fabiano Contarato (PT-ES), if he had any knowledge that Campos Neto had acted to avoid the liquidation or intervention in the Master throughout 2024. Galípolo assessed that the liquidation of the Master could not have been decreed earlier, because the BC has rites to follow.
– The investigation (by the BC) that was carried out found nothing in this regard – said Galípolo. — I arrived in January 2025, I had to follow all the rites so that we were well-dressed and I am still responding to processes from control bodies about whether the liquidation was not done hastily. It’s difficult to go through all the rites to avoid questions,” he added.
Still for Edinho, however, the assessment of possible exemption should only occur after investigations. He mentioned the involvement of the former director of the Central Bank, Paulo Souza, and Belline Santana, removed from office due to suspected links with Vorcaro following a decision by Minister André Mendonça, rapporteur of the case at the Federal Supreme Court (STF).
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Irritation in the government
As columnist Malu Gaspar, from GLOBO, showed, the Planalto Palace’s strategy of holding Campos Neto responsible for the scandal was agreed at the beginning of March in a meeting attended by Galípol and President Luiz Inácio Lula da Silva (PT). Rui Costa, former minister of the Civil House, Sidônio Palmeira, of Social Communication, and Fernando Haddad, former head of Finance, were also there.
The BC president’s statements, however, irritated the ministers closest to Lula. Almost at the same time that the president of the BC cleared Campos Neto in Congress, the president stated in a live interview with the ICL news channel that “the Master is a work, it is the egg of the serpent of Bolsonaro and Campos Neto”.
Just yesterday, the federal deputy and deputy leader of the PT in the Chamber, Lindbergh Farias (RJ), criticized “corporatism” within the Central Bank. In an interview with Globonews, the parliamentarian also defended that the Federal Police (PF) “investigate everything” and understand “who is protecting who”.
— At the very least, there is a corporatism of the Central Bank, because it [Galípolo] He said he had nothing to do with audits and investigations — he said. — Honestly, I think his stance sheds light on the entire Central Bank. The Federal Police have to investigate everything, who is protecting who, how it was done. I think there is only this way.
The Palácio do Planalto is willing to try to link the Master case to the former president and his allies, as shown in a GLOBO report. Campos Neto was appointed president of the Central Bank by Bolsonaro in 2019, a position in which he remained until January 2025.
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During Campos Neto’s tenure, the Central Bank was warned for years that Banco Master, which was liquidated in November last year amid allegations of fraud, was expanding at an alarming rate. The national deposit guarantee system, known as the Credit Guarantee Fund (FGC), sent warning letters to the BC, while executives from Brazil’s largest banks, the FGC’s main financiers, also contacted the monetary authority to express concerns, according to people familiar with the matter.
