The most recent suspected fraud attributed to Banco Master concerns the use of funds managed by Reag DTVM, a financial market institution that is the target of the Carbono Oculto operation. The investigation investigates the activities of the fuel mafia and possible connections with organized crime.
The suspicion was forwarded by the Central Bank (BC) to the Federal Public Ministry (MPF) on November 17th and may involve an amount of R$11.5 billion.
According to the BC’s investigation, these funds would have been used to make capital contributions to Banco Master, with the aim of ensuring the continuity of the institution’s operations in the final months of this year.
However, the Central Bank points to evidence that the resources were linked to low liquidity assets and that, in practice, they had a value much lower than the value for which they were traded. In other words, the assets did not correspond to the values recorded in the transactions.
Companies linked to Vorcaro or people he trusted used funds managed by Reag. Reag is being investigated by the Federal Police.
