By Brazil Stock Guide – Brazilian Federal Police on Wednesday arrested banker Daniel Vorcaro, the controlling shareholder of Banco Master, as part of the third phase of the Compliance Zero investigation examining alleged financial crimes linked to the group. The operation was authorized by Brazil’s Supreme Court and ordered by Justice André Mendonça, escalating one of the most closely watched probes involving the country’s financial sector.
Vorcaro had previously been detained in November during earlier developments of the same investigation. Authorities say the latest measures aim to deepen the probe into financial structures and transactions associated with Banco Master and companies connected to its controlling shareholder.
Federal Police said the new phase of the operation includes four preventive arrest warrants and 15 search-and-seizure orders carried out in the states of São Paulo and Minas Gerais. The warrants were issued by Brazil’s Supreme Court as investigators pursue evidence tied to a suspected criminal organization.
According to the Federal Police, the investigation examines the possible crimes of threats, corruption, money laundering and illegal access to computer systems allegedly carried out by members of the group under scrutiny. The probe has been conducted with the support of the Central Bank of Brazil, underscoring the potential implications for Brazil’s financial system.
Authorities also ordered the seizure and freezing of assets of up to R$ 22 billion, alongside orders removing individuals from public positions. The measures aim to interrupt the movement of assets connected to the investigated group and preserve funds potentially linked to the alleged illicit activities.
The case has drawn growing attention from regulators, courts and market participants after problems involving institutions associated with the group intensified scrutiny over the bank’s funding model and corporate structures. Authorities are examining whether governance practices or financial arrangements may have obscured financial risks tied to the institution’s operations.
Central Bank Officials Removed
Court orders tied to the third phase of Operation Compliance Zero also led to the removal of two career officials from Brazil’s Central Bank, according to information reported by local media and people familiar with the investigation.
Those targeted by the judicial decision are Paulo Sérgio Neves de Sousa, a former director in the Central Bank’s supervision area, and Bellini Santana, a former department head responsible for banking supervision. Both were reportedly removed from their duties as part of precautionary measures authorized by Brazil’s Supreme Court.
New Allegations of Threats
Court documents cited by investigators also describe messages allegedly sent by Vorcaro that point to intimidation tactics against critics and perceived opponents. According to the Federal Police, WhatsApp exchanges attributed to the banker are part of what investigators call a “core of intimidation and obstruction of justice.”
In one conversation referenced in the investigation, Vorcaro allegedly ordered an assault against journalist Lauro Jardim after the publication of stories considered unfavorable to his interests. In the message, he reportedly wrote: “I want someone to beat him up. Break all his teeth. Make it look like a robbery.”
The messages also allegedly included threats directed at employees. In one exchange cited by investigators, Vorcaro wrote about a female worker: “She needs to be crushed.”
Federal Police say the intimidation structure was led by Luiz Phillipi Mourão — nicknamed “Sicário” — who allegedly coordinated a group referred to in the investigation as “A Turma.” According to investigators, Mourão received monthly payments of about R$ 1 million to carry out acts of coercion.
Another individual cited in the court decision is retired Federal Police officer Marilson Roseno da Silva, described by investigators as a relevant member of what they characterize as a parallel monitoring and intimidation structure linked to the group under investigation.
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