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Caso Vorcaroindependent archive

Updated October 18, 2026

The Vorcaro case: what we know about the plea deal, the Supreme Court and Banco Master

An independent, sourced guide to one of Brazil's biggest banking scandals: where Daniel Vorcaro stands, his plea deal proposals, the crisis at the Supreme Court and how investors are being repaid by the FGC deposit guarantee fund.

  • 69 events in the timeline
  • 105 sources cited
  • 22 people in who's who

Latest updates

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  1. Vorcaro testifies to police about BRB, denies fraud and asks for release

    In his third testimony on Master's dealings with BRB, lasting about four hours at the prison unit in Brasília, Vorcaro denies fraud and says the transactions were lawful and caused the bank no losses. In a statement, his lawyers say they want to “bury once and for all the fanciful narrative of fraud and losses”, blame BRB's crisis on the “hasty launch” of Compliance Zero and ask for the inquiry to be closed and the detention revoked. According to the Federal Police, about R$12.2 billion of BRB's transactions with Master show signs of fraud.

    InvestigationCentral Bank & FGC

    Sources: Itatiaia, SBT News

  2. Fachin tells police that every mention of a justice must go to the Supreme Court

    In a meeting of about an hour and a half with Federal Police director-general Andrei Rodrigues, the Supreme Court president says the police must send the court “all mentions of the Court's justices” found in the investigation. According to Agência Brasil, the full court will decide on any investigations after an opinion from the Prosecutor General's Office. SBT News reported that the material mentions, directly or indirectly, at least six justices or their relatives; a mention does not imply wrongdoing, and the justices deny any misconduct.

    Supreme CourtInvestigation

    Sources: Agência Brasil, SBT News

  3. Police and prosecutors reaffirm the plea deal rejection and deny testimony cited by a magazine

    After a magazine released audio attributed to Vorcaro, the Federal Police says he gave no testimony with the reported content and that his plea deal proposals “were not accepted because they did not meet legal requirements”. The Prosecutor General's Office says “there was no oral testimony” precisely because of the rejection. The defense is split: one lawyer recognizes the voice but says he does not know when or how it was recorded; a note from the others does not recognize the material's “origin, authenticity and integrity”. The audio's allegations have not been proven.

    Plea dealInvestigation

    Sources: Correio Braziliense, ICL Notícias

  4. Police report points to “direct interference” by Ibaneis Rocha at BRB

    Sent to the Supreme Court on September 28 and made public on October 9, a Federal Police report says the former Federal District governor “did not limit himself to the regular exercise of his prerogatives” and places the start of talks to buy Master at a meeting in Zurich on January 23, 2025, with Vorcaro and Paulo Henrique Costa. There are no charges. Ibaneis's lawyers say he “did not apply pressure, nor did he interfere in any way in the transactions carried out by BRB”.

    InvestigationPolitics

    Sources: Metrópoles, CNN Brasil

  5. Master case goes three months without a new police operation

    The last operation was the 10th phase of Compliance Zero, on July 9. According to CNN, the uncertainty over who is in charge of the case at the Supreme Court has left the investigations “practically paralyzed”, although the police keep analyzing material and sending reports.

    InvestigationSupreme Court

    Sources: CNN Brasil, ND+

  6. Defense asks Fachin to let Mendonça rule on the release request

    Vorcaro's lawyers say he has been “held for more than eight months, without being indicted and without criminal charges” and that the September 18 request has been stalled since the files were sent to the Supreme Court's presidency. The count is the defense's: the current pretrial detention, which began on March 4, reached seven months in October. Fachin did not comment.

    Supreme Court

    Sources: Folha de Pernambuco / O Globo, Metrópoles

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The case in numbers

R$40.5 bn

paid by the FGC to 722,000 investors in the Master group in the first half of 2026

Source: InfoMoney

R$22 bn

in asset freezes ordered in the March 2026 phase of the investigation

Source: Jornal do Brasil

2

Vorcaro plea deal proposals rejected by the Federal Police and prosecutors (rejection reaffirmed on October 9)

Sources: Poder360, Correio Braziliense

3 months

without a new police operation in the case, as of October 9 (the last phase was on July 9)

Source: CNN Brasil

Why everyone in Brazil is searching “vorcaro”

Weekly Google search interest in Brazil. Index from 0 to 100, where 100 is the week with the most searches. The numbers mark the peak weeks and what happened in them.

0
50
100
  1. 16–22 Nov 2025 · Vorcaro's arrest and Master's liquidation
  2. 1–7 Mar 2026 · Vorcaro is arrested again
  3. 10–16 May 2026 · Report on Flávio Bolsonaro and Dark Horse
  4. 14–20 Jun 2026 · Prosecutors reject the plea deal
  5. 30 Aug – 5 Sep 2026 · Federal Police report on Moraes made public
  6. 13–19 Sep 2026 · Supreme Court session and Federal Police report on BRB
View the data as a table
WeekIndexWhat happened
21–27 Sep 20250
28 Sep – 4 Oct 20250
5–11 Oct 20250
12–18 Oct 20251
19–25 Oct 20250
26 Oct – 1 Nov 20250
2–8 Nov 20250
9–15 Nov 20250
16–22 Nov 202519Vorcaro's arrest and Master's liquidation
23–29 Nov 20259
30 Nov – 6 Dec 20254
7–13 Dec 20254
14–20 Dec 20252
21–27 Dec 20252
28 Dec 2025 – 3 Jan 20264
4–10 Jan 20263
11–17 Jan 20265
18–24 Jan 20267
25–31 Jan 20269
1–7 Feb 20265
8–14 Feb 20265
15–21 Feb 20266
22–28 Feb 20263
1–7 Mar 202682Vorcaro is arrested again
8–14 Mar 202671
15–21 Mar 202633
22–28 Mar 202617
29 Mar – 4 Apr 202611
5–11 Apr 202613
12–18 Apr 202617
19–25 Apr 202611
26 Apr – 2 May 20267
3–9 May 202626
10–16 May 202656Report on Flávio Bolsonaro and Dark Horse
17–23 May 202635
24–30 May 202616
31 May – 6 Jun 202618
7–13 Jun 202626
14–20 Jun 202643Prosecutors reject the plea deal
21–27 Jun 202621
28 Jun – 4 Jul 20269
5–11 Jul 20265
12–18 Jul 20265
19–25 Jul 20266
26 Jul – 1 Aug 202615
2–8 Aug 20265
9–15 Aug 20264
16–22 Aug 20264
23–29 Aug 20266
30 Aug – 5 Sep 202675Federal Police report on Moraes made public
6–12 Sep 202654
13–19 Sep 2026100Supreme Court session and Federal Police report on BRB
20–26 Sep 202667
27 Sep – 3 Oct 202625 (week in progress)

Source: Google Trends, retrieved on Sep 26, 2026. The last week was still in progress.

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