Vorcaro was apprehended on Monday evening at Guarulhos Airport in São Paulo while attempting to leave the country on a private jet, just hours after the sale of Banco Master to a consortium led by the Brazilian group Fictor Holding Financeira was announced.
The banker was detained as part of a Federal Police operation combating the issuance of fake credit securities by financial institutions within the National Financial System.
So far, Vorcaro and five others have been arrested, with accounts frozen totaling 12.2 billion reais ($2.301 billion), along with the seizure of luxury vehicles, artwork, high-value watches, and cash.
Following his capture, Brazil’s Central Bank today ordered the extrajudicial liquidation of Banco Master and froze the assets of its current and former administrators.
This measure automatically halts any ongoing sale negotiations, including the operation announced by Fictor Holding Financeira.
The deal involved an immediate investment of 3 billion reais (€485 million) to allow the Fictor group to acquire all of Vorcaro’s shares, with participation from investors in the United Arab Emirates.
This would give the group control of the bank, although the transaction still required approval from the Central Bank and the Administrative Council for Economic Defense.
According to the Federal Police statement, investigations began in 2024 at the request of the Attorney General’s Office, which sought to investigate the possible creation of unfunded credit portfolios.
The operation that dismantled the network includes five preventive arrest warrants, two temporary arrest warrants, and 25 searches in the states of São Paulo, Rio de Janeiro, Minas Gerais, Bahia, and the Federal District.
