Operation Compliance Zero: every phase

The phases, one by one

1. November 18, 2025Phase 1

   Vorcaro's arrest and Master's liquidation

   Targets included Daniel Vorcaro, his former partner Augusto Lima and then-BRB CEO Paulo Henrique Costa. The phase investigates fraudulent management and criminal organization. Five pretrial detention warrants, two temporary detention warrants and 25 search warrants were issued. The same day, the Central Bank liquidated the bank. Eleven days later, the TRF-1 appeals court released Vorcaro and four others.

   Sources: Wikipédia, CNN Brasil

2. January 14, 2026Phase 2

   Investment funds and R$5.7 billion frozen

   With authorization from Justice Dias Toffoli, the Federal Police executed 42 search warrants in São Paulo, Bahia, Minas Gerais, Rio Grande do Sul and Rio de Janeiro, and about R$5.7 billion was frozen. Targets included businessman Nelson Tanure and João Carlos Mansur, former CEO of Reag Investimentos. The phase investigates the use of funds to move money and hide losses.

   Sources: Correio Braziliense, Wikipédia

3. March 4, 2026Phase 3

   Vorcaro is arrested again

   By order of Justice André Mendonça, the Federal Police executed four pretrial detention warrants, including Vorcaro's, and 15 search warrants. A freeze of R$22 billion in assets linked to the group was ordered. The phase investigates threats, corruption, money laundering and hacking of devices. According to the Federal Police, a messaging group on Vorcaro's phone contained plans for violent actions against journalists covering the case.

   Sources: Jornal do Brasil, Agência Pública

4. April 16, 2026Phase 4

   Former BRB CEO arrested

   Paulo Henrique Costa, former CEO of BRB, was arrested. The phase investigates unbacked transactions with Master and breaches of governance rules at the state-owned bank. There were two arrest warrants and seven search warrants, authorized by Mendonça.

   Source: Wikipédia

5. May 7, 2026Phase 5

   Senator Ciro Nogueira targeted

   Senator Ciro Nogueira (PP, Piauí) was the target of searches, in an inquiry into improper benefits received by a public official. There were 10 search warrants and one temporary detention warrant.

   Sources: Wikipédia, Wikipedia (EN)

6. May 14, 2026Phase 6

   Intimidation and leaks of information

   The Federal Police executed seven pretrial detention warrants and 17 search warrants, in an inquiry into criminal organization, intimidation, coercion and leaking of information. Those arrested included Vorcaro's father and a Federal Police officer.

   Source: Wikipédia

7. May 19, 2026Phase 7

   Federal Police forensic expert targeted

   Searches targeted a Federal Police forensic expert in Porto Velho (Rondônia), in an inquiry into leaks of confidential information.

   Source: Wikipédia

8. May 26, 2026Phase 8

   Rioprevidência and a former Rio governor

   Searches targeted former Rio de Janeiro governor Cláudio Castro (PL) and a former head of Rioprevidência. The phase investigates about R$3 billion from the state pension fund invested in Master. There were 10 search warrants.

   Sources: Wikipedia (EN), Wikipédia

9. June 18, 2026Phase 9

   Senator Jaques Wagner targeted

   There were 18 search warrants in Bahia, São Paulo and the Federal District. Targets included Senator Jaques Wagner (PT, Bahia), then the government's leader in the Senate, and Augusto Lima, of Banco Pleno. The phase investigates the involvement of a public official in irregularities involving financial institutions. Wagner stepped down as government leader, saying he wanted to prove his innocence.

   Sources: Wikipedia (EN), Wikipédia, Wikipédia (2)

10. July 9, 2026Phase 10

    Ad executive linked to Vorcaro

    Searches in Brasília targeted advertising executive Thiago Miranda, who brokered Vorcaro's sponsorship of the film Dark Horse. The phase investigates an alleged coordinated social media campaign to discredit the Central Bank and intimidate journalists. His lawyers deny he committed any crime.

    Sources: CNN Brasil, SBT News, Brasil 247

Related operations

On September 10, 2026, the Federal Police launched Operation Make Up, authorized by Justice Flávio Dino. It investigates the alleged diversion of congressional budget amendments linked to the funding of the film Dark Horse and targeted congressman Mário Frias (PL, São Paulo) and producer Karina Gama (Wikipedia (EN)). See Vorcaro, Flávio Bolsonaro and Dark Horse.

In September 2026, a Federal Police report pointed to about R$17 billion in fictitious transactions between Master and BRB (InfoMoney). What it says is covered in What happened to Banco Master.

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