The owner of Master, , stated in an exchange of messages dated April 7, 2025 that “this bank business” is “like the mafia” and that “nobody” was “well”.
“You can’t leave. Nobody leaves. Well, it doesn’t leave. It only comes out badly”, wrote the former banker to his girlfriend, the influencer Martha Graeff. The woman responded, “You never told me that,” with a scared face emoji.
The excerpts of the dialogue are in documents obtained by Sheet which were sent by the joint CPI (Parliamentary Commission of Inquiry) of the (National Social Security Institute).
Asked by Martha how the day had been, the former banker replied, around 11pm, that he had survived, but that he was “on adrenaline” and “still at war”. According to him, “Andre”, in a possible reference to André Esteves, owner of BTG Pactual, “let his guard down” and the “attacks” would have decreased.
“I don’t know if it’s passed. I need to get to the end. As I was very exposed, it was very risky. But it’s on its way to being resolved,” he declared.
HAS Sheet BTG stated that it will not comment on Vorcaro’s mentions of the institution’s owner.
At the time of the messages between Vorcaro and his girlfriend, they reported that Esteves was negotiating a proposal that involved the use of the FGC (Credit Guarantee Fund) to cover backing problems that could appear in Master’s risky operations and the purchase by BTG of around R$3 billion from the bank’s precatório (judicial debts of public bodies) portfolio.
The talks are The deal did not end up materializing, as it was blocked by the Central Bank in September.
The owner of the Master also stated in the conversation with his partner that “they created a problem that didn’t exist” and that there was no point in complaining: “I have to solve it”. “Baby, they wouldn’t let you go out on top like that. Without trying to hit you”, replied the influencer. “True,” completed Vorcaro.
The exchange of messages took place days after the former banker reported, on April 4, that he had stopped talking about Master. According to the messages, Esteves said at the time that the former banker should “thank God for his proposal.”
A day earlier, BTG said that it never made a proposal to acquire assets or participation in the company’s share capital, after being asked by the CVM (Securities Commission) to clarify objectively whether it could enter into the transaction.
In a note, André Esteves’ bank advisors stated that they reiterate the “position expressed through ‘communications to the market’ made by BTG throughout this period” and that “we were never interested in purchasing Master’s business, making only occasional purchases of non-problematic assets in times of lack of liquidity in this institution”.
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