Banco Master would have invested around 614 million reais in companies that made up the Entre group, which, according to the website The Intercept Brasil, financed the production “Dark Horse, a film about the biography of former president Jair Bolsonaro (PL).
According to the website’s investigation, Grupo Entre was used to transfer 10 million dollars from Vorcaro to a fund allegedly linked to the Bolsonaro family and the production of the former president’s film.
The business conglomerate received, according to a survey of UOL based on investigation documents, around R$614 million in financial operations involving Master.
The companies were part of a group founded and controlled by Antonio Carlos Freixo Júnior, known as Mineiro. Federal Police investigations point to suspicions that Freixo Júnior acted as a financial operator of the structure set up by Vorcaro.
Still according to reports from the UOLthe PF cites operations considered atypical involving companies from the Entre Group, bond issues, financial contributions and circulation of resources between funds associated with Banco Master.
One of the operations identified involves the issuance of R$71 million in bonds by Entre Investimentos, subsequently paid by Master with maturity scheduled for 2025.
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Another front of the investigation involves Entre Payments, which received R$213 million from Fundo Máxima, a structure linked to the bank, in addition to R$330 million in debenture payments made by Master himself.
Refunds for the film
O Intercept Brazil stated that around US$10 million had been transferred by structures linked to Vorcaro to a fund allegedly associated with the production of the film and the Bolsonaro family.
According to the report, the transfers were negotiated directly with senator Flávio Bolsonaro (PL-RJ), who confirmed the financial negotiations, but denied any irregularity or receipt of personal benefits.
Film production became a new axis of investigations after audios and messages came to light in which Flávio demanded late payments from Daniel Vorcaro.
The financial relationship between Grupo Entre and Banco Master, however, precedes the film episode.
The business conglomerate also participated in the media expansion strategy attributed to Vorcaro, including the acquisition of the IstoÉ magazine website.
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In addition to the PF, the Securities and Exchange Commission (CVM) also investigates operations involving group companies.
Entre Investimentos was identified as an intermediary in transactions related to the Brazil Realty FII real estate fund, a case that generated losses to public servants’ pension funds.
According to investigations, companies belonging to the Vorcaro family had acquired shares in the fund using assets considered overvalued instead of traditional financial contributions.
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Recent reports sent to Coaf (Financial Activities Control Council) also highlighted asset inconsistencies involving Entre Investimentos.
The company declared that it had R$316 million invested in funds managed by Reag Trust. The real position, however, would exceed R$2.3 billion distributed across six different funds.
In the opinion of control bodies, this type of divergence can make it difficult to track assets and encourage practices of hiding resources and money laundering.
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In a note previously sent to the UOLGrupo Entre stated that its operations were conducted “within legal and regulatory parameters” and declared that it collaborates with the authorities.
