Master's DNA test: PT knows 'more than anyone'

In November 2025, Brazil's Federal Police launched Operation Compliance Zero, an investigation into alleged financial fraud involving Banco Master, one of the country’s largest banks. The operation, which has since expanded through multiple phases, centers on a complex scheme involving the misdirection of billions of reais through the capital markets. According to reports, the probe began in 2024 following a request from the Federal Public Prosecutor’s Office (MPF). At the heart of the investigation is Daniel Vorcaro, the bank’s owner, along with managers and entrepreneurs linked to credit portfolios and investment funds. The operation targets crimes such as fraudulent management, organized crime, market manipulation, money laundering, passive and active corruption, and the creation of fake credit titles.

The investigation has uncovered evidence suggesting that Banco Master fabricated credit portfolios worth approximately R$12.2 billion, which were sold to other institutions, including the Banco de Brasília (BRB). These fraudulent portfolios were used to mask losses and create a so-called "financial circle," where assets were hidden through a network of transactions. In January 2026, the second phase of the operation focused on the use of investment funds to purchase "bad assets," such as shares from the now-defunct Banco do Estado de Santa Catarina (Besc). This phase also led to the arrest of Paulo Henrique Costa, former president of BRB, who was investigated for passive corruption and money laundering related to his involvement in the attempted acquisition of Banco Master by BRB and the purchase of credit portfolios offered by Vorcaro’s bank.

Daniel Vorcaro was first arrested on November 17, 2025, when he was preparing to board a flight abroad from São Paulo. His partner, Augusto Lima, was also detained during this phase. Among the items seized were a private jet valued at R$200 million, found at Guarulhos Airport, along with R$2 million in cash, jewelry, watches, and artworks. The police discovered that Vorcaro had prepared three different flight plans before being arrested, leading his defense team to call the information about an escape attempt speculative.

In March 2026, Vorcaro was arrested again during another phase of the operation, which also targeted two Bank of Brazil employees, Fabiano Zettel—Vorcaro’s brother-in-law—and a retired police officer. Investigators found messages on Vorcaro’s phone indicating intent to forge an attack against journalist Lauro Jardim of *O Globo* as a form of intimidation. According to the investigation, Vorcaro maintained a private militia called "A Turma" aimed at intimidating adversaries.

In early May 2026, Senator Ciro Nogueira (PP), then president of the party, became the target of yet another phase of Operation Compliance Zero. He was accused of receiving monthly payments totaling at least R$6 million from Vorcaro between 2024 and 2025. These findings were revealed after the Supreme Court Justice André Mendonça lifted the secrecy of documents related to the case.

Another significant aspect of the investigation involves hackers associated with a group known as "Os Meninos," who provided services to "A Turma." They were arrested in May 2026 during the sixth phase of the operation. According to the investigation, these individuals received payments from Vorcaro for their activities.

The connection between Banco Master and political figures extends further, particularly with Senator Jaques Wagner (PT-BA), a leader of President Lula’s government in the Senate. According to a WhatsApp message sent by Augusto Lima directly to Wagner, the senator was deeply involved in the scheme, especially regarding the Credcesta, a consigned credit card program established under previous PT governments in Bahia. Lima structured the business, which was endorsed by Wagner, granting it a monopoly over consigned credit cards for 15 years. The program allowed discounts of up to 30% on public servants' salaries but imposed high interest rates of up to 6% per month. When public servants protested, a decree issued by then-governor Rui Costa (also from the PT) prevented them from switching to better conditions, effectively trapping around 250,000 workers in the system.

This local initiative in Bahia evolved into a nationwide financial engine that propelled Banco Master’s operations across 24 states and dozens of municipalities. The message from Lima to Wagner suggests that the senator was not merely an observer but someone intimately familiar with the scheme from its inception during the Rui Costa administration, when Wagner served as secretary. The Federal Police is investigating whether Wagner, in exchange for benefits such as access to international concerts, generous loans to family members, air travel in private jets, and possibly a R$2.4 million apartment, influenced legislative actions in the Senate on behalf of the bank, including amendments related to consigned credits, the Fundo Garantidor de Créditos (FGC), and the attempted sale of Banco Master to BRB.

The phrase "you know more than anyone else about my story and you are part of it" underscores not just personal loyalty but also political complicity. It highlights how the scheme was allegedly nurtured and protected within PT administrations in Bahia and later expanded nationally. As the investigation continues, the implications for both the banking sector and Brazilian politics remain profound, with the potential to reshape perceptions of corruption and governance in the country.