BRB Reports R$10 Billion Recovery as Master Founder’s Defense Denies Alleged R$12 Billion Fraud

Overview

• BRB said more than R$10 billion of R$12.76 billion in questioned credit portfolios tied to Banco Master were liquidated or substituted, and the remainder is not a direct exposure to Master.
• Daniel Vorcaro’s lawyers released a detailed note rejecting the claimed R$12 billion scheme, citing third‑party origination contracts, B3 registration, substitutions and buybacks, and Banco Central documents that record R$10.6 billion already replaced.
• A federal court kept Vorcaro in preventive detention after denying habeas corpus, while two businessmen, André Felipe Maia and Henrique Peretto, were released when their temporary arrests expired.
• The Central Bank’s liquidation order halted a proposed sale of Master to a Fictor-led consortium, which the defense argues would have resolved the bank’s liquidity without hindering investigations.
• Judicial orders removed BRB’s president and finance director and requested a thorough Banco Central review of BRB’s real financial position; the DF governor tapped Nelson Souza to lead BRB pending legislative approval.