PF resumes testimony at the STF about billion-dollar fraud at Master and BRB banks

The Federal Police resumed this Monday (26) the testimonies of the Operation Compliance Zero investigation, which investigates a broad financial fraud scheme involving Banco Master and operations with Banco de Brasília (BRB).

The case is being processed at the Federal Supreme Court (STF) and is part of the series of investigations that have already led to the extrajudicial liquidation of the institution controlled by Daniel Vorcaro.

At this stage, the PF hears eight people being investigated over two days, including former BRB directors, executives and partners of the Master conglomerate.

The statements are part of the in-depth investigation conducted by the Federal Police, based on evidence gathered in the two stages of the operation, launched in November 2025 and January 2026.

The focus of the investigation is on the sale of credit portfolios considered “unsubstantial” from Banco Master to BRB, in operations totaling more than R$12 billion.

The investigation points to signs of crimes such as fraudulent management, reckless management and criminal organization, involving the attempt to transfer problematic assets to a state financial institution.

This Monday, Dário Oswaldo Garcia Junior, former director of Finance and Controllership at BRB, will testify; André Felipe de Oliveira Seixas Maia, director of the investigated company; Henrique Souza e Silva Peretto, businessman linked to the origin of fake wallets; and Alberto Felix de Oliveira, executive superintendent of Treasury at Banco Master.

On Tuesday (27), four other investigators linked to the bank and BRB will be heard.

Deponents will be confronted with documents, contracts and financial flows already identified by the PF, which seeks to clarify the functioning of the scheme and the responsibility of those involved.

Daniel Vorcaro, controller of Banco Master, already admitted in a previous statement that the institution was facing a serious liquidity crisis and that its business model depended on the Credit Guarantee Fund (FGC).

The Banco Master case gained a national dimension after the Central Bank decreed the extrajudicial liquidation of the institution, in November last year, and began to expose vulnerabilities in the financial system and the connections between the capital market, public institutions and political interests.

This week’s hearings mark another step in the advancement of the judicial siege on what is already treated as one of the country’s biggest recent financial scandals.