The Federal Police (PF) opened an investigation to investigate suspicions of fraudulent management at Banco de Brasília, which tried to buy Banco Master in March last year. The new investigation was opened because there is evidence of fraudulent management practices in addition to those already investigated involving the proposed purchase of Banco Master, in the investigation of alleged financial fraud related to Daniel Vorcaro’s bank.
Banco Master would have sold around R$12.2 billion in non-existent portfolios to BRB, in an attempt to avoid the bankruptcy of the private institution, which was facing a liquidity crisis. The estimated loss in the BRB reaches R$4 billion.
Throughout 2025, BRB tried to acquire a stake in Banco Master, an initiative that had the support of the government of the Federal District, the controlling shareholder of the public bank, but ended up being blocked by the Central Bank. At the same time, the Federal Police is investigating whether BRB purchased high-risk credit portfolios from the private institution, evaluating possible flaws in the internal analysis, approval and governance processes.
