The facts
Investigators allege losses of about R$2.7 billion involving purportedly fictitious credit portfolios. This is a police allegation, not a judicial finding of guilt. [1][2]
Those named include former BRB president Paulo Henrique Costa and former Banco Master partner Augusto Lima. [1][2]
The investigative report concerns the Compliance Zero inquiry. Police sought additional time for forensic work, Agência Brasil reported. [1]
Vorcaro’s defence disputed that BRB suffered losses, saying the questioned operations were not completed or were replaced with other assets, and challenged the expert findings. [1]
Brazilian police indiciamento is an investigative recommendation. It does not by itself mean prosecutors have filed a court case or that anyone has been convicted. [1][2]
Still unconfirmed
- The prosecutorial decision and any eventual court outcome remain unknown.
Sources
References support the numbered facts above. Source checks: 29 Oct 2026, 13:55 UTC.
The police report itself was not accessible. Two separately owned Brazilian newsrooms report the investigative action; allegations and the defence denial are explicitly attributed.
- PF indicia Vorcaro e mais 14 investigados no caso Master
Agência Brasil / Empresa Brasil de Comunicação · Reporting · 28 Oct 2026
Public broadcaster’s original report includes the defence response; underlying police report was not directly available.
- PF indicia Vorcaro, ex-presidente do BRB e mais 13 por fraudes do Banco Master
O Tempo · Reporting · 28 Oct 2026
Separately owned Brazilian newsroom’s reporting. Portuguese legal terminology has been distinguished from a court conviction.