The Federal Police (PF) launched, this Thursday (7), the fifth phase of the Operation Compliance Zerowhich investigates an alleged scheme of corruption, money laundering, criminal organization and crimes against the National Financial System linked to Banco Master. Among the targets of the operation is senator Ciro Nogueira (PP-PI).
In total, federal police officers carried out 10 search and seizure warrants and one temporary arrest warrant. The orders were issued by the Federal Supreme Court (STF) and are executed in the states of Piauí, São Paulo, Minas Gerais and the Federal District.
The court decision also authorized the blocking of assets, rights and values totaling R$18.85 million.
According to the PF, the new stage of the operation seeks to deepen investigations into suspected financial fraud and illicit transactions related to the scheme investigated.
Master Case
The settlements of the decreed by the in November 2025, and the investment manager Reag, on Thursday (15), revealed one of the most serious episodes in the Brazilian financial system.
O case involves suspected billion-dollar fraud, use of investment funds to hide losses, rescue attempts via public banks and tensions between the Federal Supreme Court (STF) and the Federal Audit Court (TCU) with the BC and the Federal Police (PF).
“The decree of the special regime in institutions was motivated by the serious liquidity crisis of the Master conglomerate and the significant compromise of its economic and financial situation, as well as by serious violations of the rules that govern the activity of the institutions that are part of the SFN”, informed the BC in a note at the time.
Extrajudicially, Banco Master S/A, Banco Master de Investimento S/A, Banco Letsbank S/A, and Master S/A Corretora de Câmbio, Títulos e Valores Mobiliários were liquidated.
The Banco Master liquidation process was accompanied by Operation Compliance Zerolaunched by the PF to combat the issuance of false credit titles by financial institutions that are part of the National Financial System (SFN).
Updated report
