After receiving representations from parliamentarians, the Federal Police (PF) must open an investigation to investigate payment arrangements between banker Daniel Vorcaro and senator Flávio Bolsonaro (PL-RJ), son of former president Jair Bolsonaro and pre-candidate for the Presidency of the Republic.
One of the lines of investigation to be verified is whether the resources were diverted to a fund based in Texas linked to former deputy Eduardo Bolsonaro (PL-SP) and used to pay for his stay in the country, as the Federal Supreme Court (STF) had blocked accounts and made it difficult to receive resources in the USA.
This suspicion was raised by deputy Lindbergh Farias (PT-RJ), author of one of the representations to the PF asking for the facts to be investigated.
According to dialogues revealed on Wednesday by the website Intercept and confirmed by Estadão, Flávio Bolsonaro asked for a contribution equivalent to US$24 million, under the argument that the amounts would be used to sponsor the production of a film about Jair Bolsonaro. The information appears in dialogues found by the PF on Vorcaro’s cell phone, which also indicate that payments worth US$10 million were actually made.
The PF must investigate the path of the money and verify whether the resources were, in fact, used to produce the film.
The parliamentarian said it was a “lie” that the film Dark Horse, which tells the story of Jair Bolsonaro, was financed by banker Daniel Vorcaro.
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“It’s a lie, where did you get that from?”, he said, laughing and walking away from the place where he was answering journalists’ questions. Afterwards, the journalist says that the Intercept would publish messages from Flávio Bolsonaro asking Vorcaro for money. He calls the reporter a militant and says: “It’s a lie, for God’s sake, where did you get that from? It’s private money, private money, private money.”
Then, in a note, the senator defended the establishment of a CPI on Banco Master. “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”, says the note.
Notes released yesterday by deputy Mário Frias (PL-RJ), executive producer of the film Dark Horse, and the company Goup, responsible for executing the cinematographic project, ensure that no resources from Vorcaro reached them. The version contradicts information from Flávio Bolsonaro, who declared that there were overdue installments of financial aid from the owner of Master and that is why he contacted Vorcaro asking for payments.
“Goup Entertainment categorically states that, among the more than a dozen investors that make up the group of financiers of the feature film Dark Horse, there is not a single cent coming from Mr. Daniel Vorcaro, Banco Master or any other company under its corporate control”, says a note from the producer.
Senator Flávio Bolsonaro asked Daniel Vorcaro for US$24 million (R$134 million, in values at the time). The banker paid US$10.6 million (R$61 million) between February and May 2025.
O Intercept says that part of the money, at least US$2 million, was transferred by Entre Investimentos e Participações, suspected of working in partnership with Vorcaro companies, to the Havengate Development Fund LP, based in Texas.
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The fund’s legal agent is the law firm “Law Offices of Paulo Calixto PLLC”, owned by Paulo Calixto, a lawyer close to former federal deputy Eduardo Bolsonaro.
Grupo Entre, controller of Entre Investimentos e Participações, told Intercept that “there is no corporate, control or governance link between the company and Daniel Vorcaro”.
The relationship between Grupo Entre and Vorcaro is not direct, and Eduardo’s allies are relying on this to move away from the scandal. In the dialogues between Vorcaro and Fabiano Zettel published on the website, Vorcaro says he suggests making the payment “via Entre”, in a possible reference to Entre Investimentos e Participações, when his brother-in-law writes that the “Master exchange rate is creating trouble”, that is, making the requested payments difficult.
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In addition, Master paid R$2.329 million to Entre Investimentos, according to the bank’s Income Tax declarations, according to information from the newspaper The Globe.
