Former Banco Master Executive and Central Bank Officials Under Investigation for Improper Influence

The Federal Police are investigating allegations that Daniel Vorcaro, a former controller of Banco Master, maintained an improper relationship with officials at the Central Bank of Brazil (BC). According to reports, BC President Gabriel Galípolo alerted Director Ailton de Aquino Santos about suspected payments made by Vorcaro to two servers, Belline Santana and Paulo Sérgio Neves de Souza. Both Santana and Souza, who worked in bank supervision, were subsequently removed from their positions. The Federal Police allege that the officials acted as informal consultants for Vorcaro, providing guidance on documents before they were officially submitted to the regulator.

Documents released by the Supreme Federal Court reveal that Vorcaro sought the help of Paulo Sérgio to prevent changes to pension fund investment rules. These changes would have hindered Banco Master's strategy of selling financial notes to public servant pension regimes. Records show that 18 entities invested 1.87 billion reais in Master notes, including Rioprevidência, which held 970 million reais. Vorcaro reportedly referred to Paulo Sérgio as an angel in his life in messages to an associate.

Director Ailton de Aquino Santos testified that the environment within the Central Bank was hostile due to frequent leaks of internal information. He noted that Vorcaro often seemed to have advance knowledge of the regulator's internal movements. The defense for Paulo Sérgio Neves de Souza has denied the allegations, stating that all contacts with Vorcaro were strictly institutional. The investigation continues to examine whether the officials protected the interests of Banco Master and resisted fiscal oversight of the institution.