By Brazil Stock Guide – The legal battle surrounding Daniel Vorcaro escalated on Tuesday with the appointment of one of the most powerful defense lineups in Brazil. The banker — arrested as he allegedly prepared to flee the country on the eve of Banco Master’s liquidation — will now be represented by Roberto Podval, Pierpaolo Cruz Bottini and Walfrido Warde, a trio of top-tier names in criminal, economic and corporate law.
The case stems from Operation Compliance Zero, launched by the Federal Police to investigate an alleged scheme of issuing and trading falsified credit securities that may have moved billions through Master and related institutions. Investigators say Vorcaro was preparing to escape via São Paulo’s Guarulhos Airport, prompting authorities to execute his arrest earlier than planned. In total, seven arrest warrants and 25 search-and-seizure orders were carried out across five states.
The selection of Podval, Bottini and Warde underscores the complexity and severity of the legal fight ahead. Podval is known for navigating high-profile criminal cases; Bottini is a leading expert in white-collar crime and compliance; and Warde is one of the most prominent names in corporate, governance and capital-markets litigation. Together, they signal a multi-front defense strategy spanning criminal, financial and regulatory arenas.
The Central Bank’s sweeping intervention — which imposed extrajudicial liquidation on Banco Master, intervened in Master Corretora, and froze the assets of former executives and controlling shareholders — sets the stage for a lengthy dispute with significant regulatory implications. As investigations advance, the trio is expected to mount an aggressive, technically sophisticated strategy to challenge the allegations and seek to reverse the most restrictive measures imposed on Vorcaro’s businesses.
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