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
See allVorcaro 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.
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.
Sources: Agência Brasil, SBT News
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.
Sources: Correio Braziliense, ICL Notícias
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”.
Sources: Metrópoles, CNN Brasil
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.
Sources: CNN Brasil, ND+
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.
Sources: Folha de Pernambuco / O Globo, Metrópoles
Explore by topic
Who is Daniel Vorcaro
His background, how he built Banco Master, his arrests and where he stands now.
ReadThe Banco Master case explained
From above-market CDs to liquidation: the whole case, from the start.
ReadVorcaro's plea deal
Why the proposals were rejected, how plea deals work in Brazil and what to watch now.
ReadVorcaro and Moraes
The law firm contract, the police report and the suspended Supreme Court ruling.
ReadVorcaro, Bolsonaro and Dark Horse
The payments for the film about Jair Bolsonaro, the “Mineiro” plea deal and the investigations.
ReadOperation Compliance Zero
The ten phases of the police investigation: dates, targets, arrests and asset freezes.
ReadFGC: how to get paid
Calculator, the R$250,000 limit, the step-by-step in the app and a scam warning.
ReadUS mansions
The liquidator's Florida lawsuit, the three homes, the money trail and the deadlines.
ReadFull timeline
Every event in order, with topic filters and search.
ReadWho's who
Justices, investigators, politicians and executives: each person's role.
ReadThe 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.
- 16–22 Nov 2025 · Vorcaro's arrest and Master's liquidation
- 1–7 Mar 2026 · Vorcaro is arrested again
- 10–16 May 2026 · Report on Flávio Bolsonaro and Dark Horse
- 14–20 Jun 2026 · Prosecutors reject the plea deal
- 30 Aug – 5 Sep 2026 · Federal Police report on Moraes made public
- 13–19 Sep 2026 · Supreme Court session and Federal Police report on BRB
View the data as a table
| Week | Index | What happened |
|---|---|---|
| 21–27 Sep 2025 | 0 | |
| 28 Sep – 4 Oct 2025 | 0 | |
| 5–11 Oct 2025 | 0 | |
| 12–18 Oct 2025 | 1 | |
| 19–25 Oct 2025 | 0 | |
| 26 Oct – 1 Nov 2025 | 0 | |
| 2–8 Nov 2025 | 0 | |
| 9–15 Nov 2025 | 0 | |
| 16–22 Nov 2025 | 19 | Vorcaro's arrest and Master's liquidation |
| 23–29 Nov 2025 | 9 | |
| 30 Nov – 6 Dec 2025 | 4 | |
| 7–13 Dec 2025 | 4 | |
| 14–20 Dec 2025 | 2 | |
| 21–27 Dec 2025 | 2 | |
| 28 Dec 2025 – 3 Jan 2026 | 4 | |
| 4–10 Jan 2026 | 3 | |
| 11–17 Jan 2026 | 5 | |
| 18–24 Jan 2026 | 7 | |
| 25–31 Jan 2026 | 9 | |
| 1–7 Feb 2026 | 5 | |
| 8–14 Feb 2026 | 5 | |
| 15–21 Feb 2026 | 6 | |
| 22–28 Feb 2026 | 3 | |
| 1–7 Mar 2026 | 82 | Vorcaro is arrested again |
| 8–14 Mar 2026 | 71 | |
| 15–21 Mar 2026 | 33 | |
| 22–28 Mar 2026 | 17 | |
| 29 Mar – 4 Apr 2026 | 11 | |
| 5–11 Apr 2026 | 13 | |
| 12–18 Apr 2026 | 17 | |
| 19–25 Apr 2026 | 11 | |
| 26 Apr – 2 May 2026 | 7 | |
| 3–9 May 2026 | 26 | |
| 10–16 May 2026 | 56 | Report on Flávio Bolsonaro and Dark Horse |
| 17–23 May 2026 | 35 | |
| 24–30 May 2026 | 16 | |
| 31 May – 6 Jun 2026 | 18 | |
| 7–13 Jun 2026 | 26 | |
| 14–20 Jun 2026 | 43 | Prosecutors reject the plea deal |
| 21–27 Jun 2026 | 21 | |
| 28 Jun – 4 Jul 2026 | 9 | |
| 5–11 Jul 2026 | 5 | |
| 12–18 Jul 2026 | 5 | |
| 19–25 Jul 2026 | 6 | |
| 26 Jul – 1 Aug 2026 | 15 | |
| 2–8 Aug 2026 | 5 | |
| 9–15 Aug 2026 | 4 | |
| 16–22 Aug 2026 | 4 | |
| 23–29 Aug 2026 | 6 | |
| 30 Aug – 5 Sep 2026 | 75 | Federal Police report on Moraes made public |
| 6–12 Sep 2026 | 54 | |
| 13–19 Sep 2026 | 100 | Supreme Court session and Federal Police report on BRB |
| 20–26 Sep 2026 | 67 | |
| 27 Sep – 3 Oct 2026 | 25 | (week in progress) |
Source: Google Trends, retrieved on Sep 26, 2026. The last week was still in progress.
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