Federal Police Uncover Extensive Fraud and Corruption Scheme Involving Banco Master
4 sources · Brazil
Who reported this
- G1
- CNN Brasil
- Folha de S.Paulo
- Gazeta do Povo
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
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Every source for this story reports from Brazil.
The Brazilian Federal Police have uncovered a wide ranging scheme involving Banco Master and its owner, Daniel Vorcaro, which includes the simulation of billions in loans, the bribery of public officials, and the use of shell companies to move illicit funds. According to PF reports, Banco Master used a shell company called Tirreno, which was created with only R$ 100 in capital, to simulate the origin of R$ 7.155 billion in payroll loans. The PF discovered a PowerPoint presentation on a corporate hard drive detailing a document factory used to forge contracts and simulate credit cessions to the Banco de Brasília (BRB).
How each side framed it
- Centre-left
- These reports emphasized the technical details of the fraud, such as the document factory and the bribery of Central Bank employees.
- Centre
- These reports focused on the financial movements of bank executives and the specific mechanisms of the illicit financial flows.
- Centre-right
- These reports highlighted the legal contracts between Banco Master and the law firm of Minister Alexandre de Moraes' wife.
Sources
- Centre CNN Brasil: PF: "Mineiro" created structure to operate illicit financial flow of Master
- Centre Folha de S.Paulo: President of Febraban deposited R$ 700 thousand in account of firm linked to Vorcaro and Zettel, says Coaf
- Centre-left G1: Two Central Bank employees received bribes to guide Vorcaro in meetings with the institution, Federal Police says
- Centre-left G1: Master case: PF report exposes 'document factory' to validate credit sold to BRB
- Centre-left G1: How Banco Master used R$ 100 company to simulate R$ 7.15 billion in payroll loans, according to PF
- Centre-right Gazeta do Povo: R$ 131 million Master contract guaranteed full value after termination
- Centre-right Gazeta do Povo: Office of Moraes' wife signed million dollar contract with Banco Master
100% of the statements in this article were traced back to the source articles listed above.