Vorcaro had access to a secret clearance of R $ 500 million between Master and Caixa

The investigation into Daniel Vorcaro, former owner of the now-defunct Banco Master, has expanded significantly following the release of documents by the Federal Police (PF) that reveal new connections involving Hugo Motta, president of the Chamber of Deputies. These revelations emerged after the Supreme Court of Brazil lifted the secrecy on certain police reports related to the Operation Compliance Zero, which focuses on financial fraud allegations tied to the Banco Master. The documents include messages found on Vorcaro’s phone, suggesting interactions between Motta and the former bank executive regarding a loan of at least 22 million Brazilian reals granted to a company owned by Bianca Medeiros, sister of Luana Motta, wife of the chamber president. This loan was contracted in March 2024, prior to Motta taking office as head of the legislative body.

According to the police reports, these messages indicate that Motta approached Vorcaro to discuss the credit operation. The funds were allegedly used to purchase land in João Pessoa, where a real estate project is planned. The transaction had already been recorded in the Commercial Registry of Paraíba. When questioned about this matter, Motta denied having requested the loan but claimed the operation was conducted legally. He emphasized that the company responsible for the financing is currently meeting its payment obligations without issues. However, the Federal Police continues to assess whether there are sufficient elements to deepen the investigation concerning Motta. One hypothesis being explored involves potential ties between the loan and a parliamentary amendment proposed by Motta on investments in carbon credits, a topic that could benefit businesses linked to Vorcaro's family. So far, no formal charges have been filed against Motta.

In addition to the loan issue, the documents also highlight a trip made by Motta to Lisbon in June 2024, accompanied by Senator Ciro Nogueira (PP-PI). According to the investigation, Vorcaro provided a private jet for the journey and covered accommodation costs at a luxury hotel in Lisbon. Motta confirmed traveling in Vorcaro’s plane after an invitation from Nogueira, stating he accepted the ride without knowing of any suspicions surrounding the banker at the time. He also acknowledged that Vorcaro paid for his stay, asserting that there was no exchange of favors. However, investigators found messages indicating that Vorcaro arranged hotel reservations for both Ciro and Hugo at the Four Seasons Hotel, along with documentation linking payments to the period of their visit. The PF claims these elements reinforce the conclusion that the two legislators' lodging expenses were covered by the former banker.

Following the disclosure of these documents, Motta expressed support for an impartial and unbiased investigation. Currently, the materials released by the Federal Police contain indicators under analysis by investigators, with no definitive conclusions yet regarding possible criminal liability for Motta.

Meanwhile, another aspect of the investigation reveals that Vorcaro had access to a confidential audit by the Federal Public Prosecutor's Office (MPF) involving a 500 million reais deal between Banco Master and Caixa Asset, a branch of Caixa Econômica Federal managing investment funds. This transaction was halted due to concerns raised by two managers who were subsequently removed from their positions. The audit, included in a report sent to Justice Minister André Mendonça, relator of actions related to Banco Master before the Supreme Court, indicates that Vorcaro received information about the audit two days after the "fact notice" was issued by the prosecutors.

Technicians from Caixa Asset had classified the transaction as risky and atypical, noting a lack of clarity, effectiveness, and consistency in data from Banco Master, alongside significant risks to the financial health of the operation. Despite recommendations against proceeding with the purchase of shares, two managers who opposed the deal were dismissed from their roles. The operation also prompted the Federal Controller-General (CGU) to open an audit to investigate the management of the operation and internal decisions within the state bank. The investigation further points to the involvement of an intermediary known as Luiz Phillipi Mourão ("Sicário"), arrested during the third phase of Operation Compliance Zero, who reportedly earned around one million reais monthly for obtaining information and monitoring secret investigations.

Messages suggest that Mourão informed Vorcaro about the existence of a "notice of fact," advising him to review the document to prevent it from becoming an official police inquiry. Mourão is identified by the police as one of the operators and executors of orders given by Vorcaro and his father, Henrique Moura Vorcaro, part of a so-called "private militia" called "A Turma," used to intimidate and coerce adversaries of the banker. In previous messages, Mourão asked Vorcaro for a list of individuals to monitor, including relatives and names associated with Banco Master. Vorcaro responded affirmatively, according to the police report.

The Federal Police also investigates whether a federal employee in Maranhão accessed internal systems of the MPF illegally. Investigators still need to determine if there was unauthorized access, system failure, or improper authorization. Earlier messages indicated that Mourão requested Vorcaro to provide a list of people for surveillance, including family members and those connected to Banco Master. Vorcaro replied positively, as noted in the police report.

The investigation remains ongoing, with the Federal Police still analyzing three of Vorcaro’s cellphones and approximately 60 electronic devices seized during the Compliance Zero operation. The analysis of documents and electronic devices collected over nine phases of the operation is expected to take months and potentially extend until 2027, depending on the current pace of forensic work. Each new phase of the operation brings more seizures and analyses, making the case one of the most complex financial investigations in the country’s history. From Vorcaro alone, eight cellphones were found in three separate seizure operations, five of which have undergone partial or full forensic examination. The first device, seized on November 17 when Vorcaro was initially arrested, contains much of the evidence confirming alleged illegal activities.

Beyond electronic devices, investigators are examining thousands of physical documents, cross-referencing them with information from Vorcaro’s phones and other suspects’ devices. At least 100 electronic devices, mostly cellphones, have been intercepted from around twenty targets, all undergoing forensic analysis and data correlation. Sources close to the investigation note that the case is in an intermediate stage, with new phases of the operation on the horizon. Both the analysis and investigation are expected to continue for months, possibly overlapping with the electoral period and extending into 2027, given the scale of resources, number of people involved, and complexity of the financial engineering and institutional structures at play.

The first cellphone, seized shortly after Vorcaro’s initial arrest, has yielded critical information, revealing Vorcaro’s extensive network of relationships with officials from the Executive, Legislative, and high-ranking Judicial branches, as well as his family’s involvement, giving the scheme characteristics reminiscent of a mafia, according to Justice Minister André Mendonça, the case’s rapporteur at the Supreme Court. Forensic experts are producing technical, financial, and institutional reports that deepen the investigation and open new lines of inquiry.

Forensic analyses have led to the rejection of two plea bargain proposals from Vorcaro, as the Public Prosecution Service and Federal Police determined that he did not offer new information beyond what had already been gathered in earlier stages of Operation Compliance Zero. Permits suggest that the bulk of future work lies in the thousands of printed documents, containing contracts, spreadsheets, handwritten notes, and reports that will require detailed scrutiny.