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Court orders Vorcaro and four other Banco Master partners released

Court maintains arrest of Daniel Vorcaro, owner of Banco Master

The Federal Court in Brasília ordered the release of banker Daniel Vorcaro and four other partners from Banco Master this Friday (28).Court orders Vorcaro and four other Banco Master partners released

The habeas corpus was granted by judge Solange Salgado da Silva, of the Federal Regional Court (TRF) of the 1st Region.

With the decision, Vorcaro and partners Augusto Ferreira Lima, Luiz Antonio Bull, Alberto Feliz de Oliveira and Angelo Antonio Ribeiro da Silva must wear an electronic ankle bracelet and are prohibited from carrying out activities in the financial sector, from having contact with other people being investigated and from leaving the country.

Vorcaro was arrested by the Federal Police (PF) on the 17th of this month while trying to board his private jet abroad at Guarulhos Airport. He is currently detained at the Provisional Detention Center (CDP) in Guarulhos (SP).

The banker and other bank partners were the target of Operation Compliance Zero, launched by the PF to investigate the granting of false credits by Banco Master, including the attempted purchase of the financial institution by Banco Regional de Brasília (BRB), a public bank linked to the government of the Federal District. According to investigations, fraud could reach R$17 billion.

After his arrest, Daniel Vorcaro’s lawyers denied that the banker tried to flee the country and maintained that he always made himself available to contribute to the investigation of the facts.

BRB informed that it will hire an external audit to investigate the facts. The bank will also investigate possible failures in governance or internal controls.

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