Investigations point to “informal consultancy” by former Central Bank employees; founder of Master was arrested this Wednesday
Investigation by the PF (Federal Police) indicates that the founder of Banco Master, received “informal consultancy” by Paulo Sérgio Souza and Bellini Santana, former employees of the Central Bank. Minister André Mendonça, from the STF (Supreme Federal Court), determined this Wednesday (March 4, 2026) the the banker and .
According to the PF, Souza and Santana maintained direct and frequent dialogue with Daniel Vorcaro, “beginning to act informally in favor of the interests of the financial institution subject to the supervision of the same authority with which it had a functional link”. Read the of André Mendonça’s decision (PDF – 384 kB).
Investigations indicate that the 2 former servers participated in a WhatsApp group with Vorcaro, “created to facilitate direct communication between those involved and allow the discussion of strategies relating to topics of interest to Banco Master”.
Paulo Sérgio Souza He held the position of deputy head of the Banking Supervision department at the Central Bank. According to the PF, he:
- provided “strategic guidelines on the Central Bank’s actions in administrative processes involving the Master Bank, including suggesting approaches and arguments to be used in meetings with directors of the regulatory authority”;
- forwarded to Vorcaro “specific recommendations on topics that could be raised by Central Bank authorities in institutional meetings, providing prior guidance on the responses and strategies to be adopted”;
- “reviewed draft documents and institutional communications prepared by the Master Bank and intended for the Central Bank itself, suggesting changes and adjustments before formalizing the documents before the supervisory authority”;
- received “undue advantages associated with the interests defended with the investigated financial institution”.
Belline Santana held the position of head of Desup at the Central Bank. The PF states that he:
- “requested telephone contact [com Vorcaro] to deal with sensitive matters, indicating the intention to avoid written recording of communications”;
- participated in meetings with Vorcaro, “in which strategic topics relating to Banco Master’s performance and positioning before the regulatory authority were discussed”;
- “reviewed documents and institutional communications prepared by Banco Master”;
- “demonstrated close monitoring of administrative decisions and institutional movements involving Banco Master” and informed Vorcaro;
- received a proposal to “simulated hiring” in company “structured for the purpose of justifying payments related to informal services provided”.
Mendonça ordered that Souza and Santana be removed from their public roles at the Central Bank. He also prohibited them from maintaining contact with witnesses or others investigated in Operation Compliance Zero. Finally, he ordered the use of an electronic ankle bracelet. Those being investigated must stay in their municipality of residence and hand over their passports to the Federal Police.
Prisons
Mendonça authorized the 3rd phase of Operation Compliance Zero nthis Wednesday (Mar 4), at the request of the PF. According to the minister’s order, the investigation into the case indicates that Vorcaro issued “direct orders” of acts of intimidation against people like “business competitors, former employees and journalists” that harmed the Master’s interests. The minister also declared that records were identified that the businessman had “prior access” the information “related to the carrying out of investigative measures”.
The following were preventively arrested:
- Daniel Vorcaro, appointed as leader of the criminal organization;
- Fabiano Zettelinvestigated for making payments and guiding an intimidation center;
- Marilson Roseno da Silvaretired federal police officer investigated for participating in a group monitoring Vorcaro’s opponents;
- Luiz Phillipe Machado de Moraes Mourãoidentified as one of the members of the group “The Class”.
The search and seizure was also authorized at 15 addresses linked to those investigated in São Paulo and Minas Gerais. Mendonça ordered the removal from public positions and the seizure of assets worth up to R$22 billion.
WHAT VORCARO’S DEFENSE SAYS
Daniel Vorcaro’s defense stated that the businessman “He was always at the disposal of the authorities” e “cooperated transparently with the investigations from the beginning”. In a note, the lawyers deny “categorically the allegations attributed” to Vorcaro and say they trust that “complete clarification of the facts will demonstrate the regularity of your conduct”reiterating confidence “due legal process and the functioning of institutions”.
Here is the full note:
“Daniel Vorcaro’s defense informs that the businessman was always available to the authorities, cooperating transparently with the investigations from the beginning, and never tried to obstruct the work of the authorities or Justice.
“The defense categorically denies the allegations attributed to Vorcaro and trusts that the complete clarification of the facts will demonstrate the regularity of his conduct.
“Reiterates its confidence in due legal process and the regular functioning of institutions.”
Until the publication of this report, the defense lawyers for the other targets of the operation had not commented on the facts attributed to them by the Federal Police. THE Poder360 will update the report when it receives the comments.
