This Friday morning (23), the Federal Police (PF) carried out Operation Paper Boat, where they investigated suspected irregular financial operations between Rioprevidência and Banco Master. The municipality is responsible for managing the retirements and pensions of public servants in the state of Rio de Janeiro and would have invested R$970 million in Daniel Vorcaro’s financial institution.
The search and seizure warrants were issued by the 6th Federal Criminal Court of Rio.
According to information from the Federal Police itself, the investigation into this case began in November 2025 and investigates financial transactions that were carried out between November 2023 and July 2024.
Master Bank
The financial institution controlled by banker Daniel Vorcaro is being investigated for fraudulent operations that artificially inflated its balance sheet. Investigations by the Federal Police and reports from the Central Bank (BC) show that Master had embezzled around R$11.5 billion.
Master was liquidated by the BC and investigations are ongoing.
