Haddad avoids commenting on the Master case, but says the process “must be very robust”
The Minister of Finance, Fernando Haddad, stated this Tuesday (18) that he will not comment on the intervention at Banco Master or the arrest of the institution’s controller, Daniel Vorcaro, as this is an issue under the responsibility of the Central Bank (BC).
In conversation with journalists, however, he signaled confidence in the consistency of the investigations. “I am sure that, to have reached this point, this entire process must be very robust,” he stated.
The statement was given after Vorcaro’s arrest by the Federal Police at Guarulhos airport, when he tried to board a private flight. According to the PF, the action was anticipated given the risk of flight and investigates crimes such as fraudulent management, criminal organization, reckless management and the sale of false credit securities. The defense denies escape.
Who is Daniel Vorcaro, owner of Banco Master, who was arrested by the PF?
A little over 40 years old from Minas Gerais took control of Banco Master in 2018
PF searches the Banco de Brasília (BRB) in an operation that arrested the owner of the Master
Action occurs after Master’s liquidation, and almost a month after the BC blocked BRB’s offer to acquire Daniel Vorcaro’s bank
Hours after the arrest, the Central Bank decreed the extrajudicial liquidation of Banco Master and determined the unavailability of the assets of controllers and former administrators. Part of the financial conglomerate was also placed under temporary special administration.
Haddad stated that it is up to the BC to inform the next steps in the process. Asked about possible losses for customers and the activation of the Credit Guarantee Fund (FGC), he said that the Treasury will monitor developments and provide the necessary support. “It is up to the Treasury to provide support for the consequences of this act. If there are any, we are here ready to collaborate”, he said.
PF operation
According to the PF, after the announcement that the Fictor group intended to buy Master, Vorcaro left the bank’s headquarters, went by helicopter to Guarulhos and immediately tried to board a flight to Europe. For investigators, there were clear signs that he intended to leave the country before the operation came to light.
The action, called Compliance Zero, serves seven arrest warrants and 25 search and seizure warrants in five states and the Federal District. The investigation began in 2024, when signs emerged of the conglomerate manufacturing and selling unbacked credit portfolios.
