Founder of Reag confirms Master among clients and denies connection with PCC

The founder of Reag Investimentos João Carlos Mansur confirmed this Wednesday, 11th, to the Organized Crime CPI that Banco Master was one of the resource management company’s clients. The statement was given when explaining what the company was like, at a request made by the president of the collegiate, senator Fabiano Contarato (PT-ES).

“Banco Master was one of the customers, like other banks, like other financial institutions and like other market companies, a customer like you, like me, like our lawyer. So, normal”, he said.

Mansur stated that Reag was penalized for being “large and independent”. Our market penalizes the independent,” he said.

He also denied any connection with the First Command of the Capital (PCC). “We work very diligently, very conscientiously. Unfortunately, a steamroller passed. We have no connection. As our lawyer, our patron just stated, in the Carbono Oculto procedure, in 15 thousand pages, there is no mention of association with the PCC or organized crime”, he told the senators.

Asked by Contarato about what he attributed to the association made between Reag and the PCC in the investigations, Mansur stated that he would remain silent, as he was “in a public environment”.

The stance was adopted throughout the testimony. Mansur did not answer the questions, based on a decision by Federal Supreme Court Minister Flávio Dino, who assured him the right to silence in relation to facts that could imply his self-incrimination in the CPI.

In the first phase of Compliance Zero, the Federal Police investigated a scheme of sales of non-existent credit portfolios by Master to Banco de Brasília (BRB). The Central Bank warned the PF and the Federal Public Ministry (MPF) about the alleged billion-dollar scheme between Master and Reag, which would act as an operator of the triangulation of resources arising from fraud.

The manager had already been the target of another investigation. In August, it became the target of Carbono Oculto, in which the PF and the Federal Public Ministry investigated a money laundering scheme involving the Primeiro Comando da Capital (PCC) faction. Reag had its extrajudicial liquidation ordered by the BC in January 2026.