Former banker disbursed R$61 million to finance work on Bolsonaro; When it was liquidated, Master had around R$4 million in cash
The money that Daniel Vorcaro, founder of , paid to finance a film about the former president (PL) is equivalent to more than 10 times what the financial institution had in cash in November last year, when it went to the Central Bank.
Digital newspaper report published on Wednesday (May 13) says that the senator (PL) gave Vorcaro US$ 24 million to finance the film “Dark Horse”. The founder of Master would have paid US$10.6 million – the equivalent of R$61 million according to the exchange rate at the time. When Master went through extrajudicial liquidation, there was around R$4 million in cash.
On September 8, 2025, Flávio sent an audio to Vorcaro. In the sound recording, the senator demanded payment of late installments related to the film. He expressed concern about the delays. He warned about the negative consequences that non-payment could have on production.
“Imagine us defaulting on Jim Caviezel [ator que interpreta Bolsonaro no filme]num Cyrus [Nowrasteh, diretor do filme]the guys, well, renowned in American and world cinema. Wow, it would be really bad”, said Flávio.
Listen to the audio (1min37s):
📹 Intercept leaks audio attributed to Flávio Bolsonaro asking Vorcaro for money
🎶Audio attributed to presidential candidate Flávio Bolsonaro (PL) shows the senator asking former banker Daniel Vorcaro for money.
👇Watch the video:
— Poder360 (@Poder360)
In November, Flávio asked for the remainder of the promised resources to be transferred. The charge was made the day before Vorcaro was arrested by the Federal Police. Intercept Brasil says it has documents proving the transactions, but has not published them or detailed how it arrived at these figures.
Flávio also does not detail the amounts he would have requested and received, he only confirms that there was such a negotiation.
The transfers were made through Entre Investimentos e Participações, controlled by Antonio Carlos Freixo Júnior, “Mineiro”, who also runs the magazine That is. In March this year, the payments institution Entrepay, which belonged to the Entre Group, was liquidated by the Central Bank.
The transfers were directed to the Havengate Development Fund LP, located in Texas, United States. Paulo Calixto, lawyer for the former federal deputy (PL-SP), Flávio’s younger brother, is among the fund’s agents.
RELATIONSHIP
The rapprochement between the senator and the founder of Banco Master began in December 2024. The businessman, who at the time was the owner of the Leo Dias Portal, acted as intermediary in the initial contact.
Miranda informed Vorcaro that Flávio Bolsonaro wanted to discuss financing film production. It also mentioned advertising-related agreements. The businessman informed the former banker that the senator was “aware of all the details.”
The 1st face-to-face meeting between Flávio and Vorcaro took place on December 11, 2024, at Vorcaro’s residence, in Brasília.
On November 16, 2025, Flávio Bolsonaro sent a message to Vorcaro. The senator referred to the former banker as “brother” and even declared that he would be by his side “Always”. The next day, on November 17, 2025, Vorcaro was arrested in the operation.
FLAVIO RESPONDS
Senator Flávio Bolsonaro stated in a note released on Wednesday (May 13) that it is “Installation is essential” of a CPI (Parliamentary Commission of Inquiry) from Banco Master.
According to the senator, the case is a “son seeking private sponsorship for a private film about his own father’s story, without the use of public funds or the Rouanet Law”.
Flávio declared: “I didn’t offer any benefits in return. I did not promote private meetings outside the agenda. I did not broker business with the government. I did not receive money or any advantage.”
Read Flávio Bolsonaro’s full note:
“More than ever, the installation of Banco Master’s CPI is essential. It is necessary to separate the innocent from the criminals. In our case, what happened was a son, seeking PRIVATE sponsorship for a PRIVATE film about his own father’s story. Zero public money. Zero Rouanet law. I met Daniel Vorcaro in December 2024, when the Bolsonaro government had already ended, and when there were no accusations or public suspicions about the banker. Contact is resumed when there is delay in paying the sponsorship installments necessary for the completion of the film. I did not offer any advantages in return. I did not promote private meetings outside the agenda. Therefore, I reiterate, CPI from MASTER JÁ.
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