Vorcaro earned more than R$440 million in operations with funds managed by Reag
Daniel Vorcaro, owner of Banco Master, profited more than R$440 million in transactions involving the purchase and sale of shares in funds managed by the company Reag Investimentos, according to information obtained by g1. In one of them, in less than 24 hours, the banker carried out a transaction in which he earned more than R$290 million from the sale of assets to the management company, also being investigated on suspicion of money laundering for companies linked to the Primeiro Comando da Capital (PCC).
The financial operations appear in the 2024 Income Tax (IR) declaration, sent by the Federal Revenue Service to the INSS CPMI and revealed by the newspaper Folha de S. Paulo. In the document, Vorcaro detailed the profits obtained from investments in 2023. One of them was dated December 27th of that year, in the period between Christmas and New Year.
On that occasion, Vorcaro purchased R$2.5 million worth of shares in a fund called Hans 2 Fundo de Investimento em Participações Multiestratégia. The following day, December 28, he sold these same shares to Itabuna Fundo de Investimento em Participações Multiestratégia, for the amount of R$294.5 million. In practice, in 24 hours, the banker’s assets increased 116 times and had a real appreciation of 11,474%. g1 tried to contact the banker’s defense, but did not receive a response until the publication of this report.
Months earlier, on May 31, 2023, Vorcaro spent R$10 million to acquire shares in the same fund, Hans 2. A week later, on June 7, he sold them to Astralo Fundo de Investimento Multimercado Crédito Privado I for R$160 million, 16 times the price paid, representing an appreciation of 1500%. In both cases, the receiving funds were managed by Reag.
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Last month, the manager’s founder and former executive, João Carlos Mansur, was the target of a new phase of the Compliance Zero operation, which investigates the alleged granting of fraudulent credits to Master. Agents carried out search and seizure warrants at addresses linked to him, but the businessman was out of the country. Back in Brazil, Mansur stated this week, in testimony to the Organized Crime CPI in the Senate, that Master was just a client of the manager and denied that the company had been used for irregular operations.
In August last year, Reag was also the target of the Hidden Carbon operation, launched by the São Paulo Public Ministry (MP-SP), Federal Police and Federal Revenue. According to investigations, 11 funds linked to the manager were used to acquire and hide assets such as real estate, vehicles and even alcohol plants, within a billion-dollar PCC money laundering scheme.
Vorcaro situation
This Friday, the Federal Supreme Court (STF) formed a majority to maintain the banker’s preventive detention, which had been ordered last week by Minister André Mendonça. After the incident, the businessman changed lawyers.
Vorcaro’s defense was taken over by criminalist José Luis Oliveira Lima, known as Juca. He was already at the forefront of the denunciation of contractor Léo Pinheiro, from OAS, during Lava Jato and defended General Walter Braga Netto in the trial of the coup plot by the Court last year. To interlocutors, the lawyer did not rule out negotiating a plea bargain for the banker and stated that all possibilities are open.
Master’s crisis was also accentuated by the revelation of messages from the banker, such as those published by columnist Malu Gaspar, from GLOBO, sent to minister Alexandre de Moraes, from the STF, on the day of Vorcaro’s first arrest, last year. The businessman also has an extensive network of political connections. Data from his cell phone shows, for example, a relationship with the president of the PP, Ciro Nogueira, and a meeting outside the official agenda with President Lula.
