On Wednesday (18), the Federal Police launched Operation Zero Compliance, which investigates an alleged scheme to create and negotiate fraudulent credit securities by institutions that are part of the national financial system. Among those targeted was banker Daniel Forcaro, owner of Master Bank.
Agents issued five protective arrest warrants, two temporary arrest warrants, and 25 search and seizure warrants. The action takes place in Rio de Janeiro, São Paulo, Minas Gerais, Bahia and the Federal District.
Investigations began in 2024, at the request of the Federal Public Prosecution. The suspicion is that a financial institution has produced credit portfolios without real collateral and sold these securities to another bank. After inspection by the Central Bank, the bonds could have been replaced with other assets without a proper technical evaluation.
The Federal Police investigates possible crimes of fraudulent management, reckless management, formation of a criminal organization and other offenses.
The operation takes place on the same day that the Central Bank issued a decision to extrajudicially liquidate Banco Master on Tuesday. In this decision, the Central Bank also points out the unavailability of the assets of the bank’s supervisors and former administrators. The liquidation decision also applies to Master Corretora de Câmbio, Títulos e Valores Mobiliários. In addition, British Columbia decreed a special interim management system for Banco Master Múltiplo.
In the statement, BC informed that EFB Regimes Especiais de Empresas has been appointed as liquidators, and the technical officer responsible for the liquidation is Eduardo Felix Bianchini, who has “powers to manage and represent the company.”
Victor Holding Financeira announced the purchase of Banco Master, as reported in GLOBO’s Capital column last Monday. The company said it had joined a “consortium formed by investors from the United Arab Emirates” to buy the bank and promised an “immediate contribution” of R$3 billion to “strengthen the bank’s capital structure.”
This was just one of the chapters in the financial series in which the master participated. In September, the National Police opened an investigation to investigate suspected irregularities in the management of Banco Master and the attempted takeover of the institution by Bank of Brasilia. The investigation was opened based on documents sent by the Central Bank, which refused a license to operate.
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