Banker Daniel Vorcaro and former president of Banco de Brasília (BRB) Paulo Henrique Costa clashed during a confrontation carried out by the Federal Police (PF) and the Attorney General’s Office (PGR) on December 30 of last year.
The confrontation was determined by Minister Dias Toffoli, rapporteur of the investigation investigating fraud at Banco Master and the attempted purchase of the bank’s assets by BRB. The hearings were held on December 30th of last year.
During his testimony, Vorcaro said that the credit portfolios of the Tirreno company, linked to Master, originated from third-party investments and did not belong to the bank.
According to the banker, the condition was informed to BRB during negotiations to purchase the assets.
“We announced that we would sell from third-party originators. We even discussed that we would start a new sales format, which would be originated from third parties, no longer our own origination”, he stated.
Then, the former president of BRB said that he was informed that the credits belonged to the Master.
“In my understanding, these were wallets originated by Master, which had been sold or traded with third parties and which Master was repurchasing and reselling to us [BRB]”, he said.
According to PF investigations, Tirreno was a “shell company” to simulate credit purchase and sale operations.
In December last year, Toffoli decided that the investigation into Banco Master should be carried out by the STFand not in the Federal Court in Brasília. The measure was taken following the summons of a federal deputy in the investigations. Parliamentarians have a privileged forum in the Court.
In November 2025, the banker Daniel Vorcaro and other defendants were the target of Operation Compliance Zero, launched by the Federal Police (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.
Faced with signs of fraud, the bank was liquidated by the Central Bank.
