Daniel Vorcaro

Daniel Vorcaro
Born (1983-10-06) October 6, 1983 (age 42)
Belo Horizonte, Brazil
Alma materBrazilian Institute of Capital Markets (IBMEC)
OccupationBusinessperson
Known forFormer owner of Banco Master

Daniel Bueno Vorcaro (born October 6, 1983) is a Brazilian entrepreneur active in the financial, real estate, healthcare, and retail sectors.[1] He gained prominence as the majority shareholder and president of Banco Master (formerly Banco Máxima), guiding the institution through phases of expansion and investment diversification.[2][3][4] Vorcaro's career encompasses investments in companies such as Biomm and Veste S.A. Estilo, participation in the investor group of Clube Atlético Mineiro's Sociedade Anônima do Futebol, and a notable presence in real estate and large-scale ventures operated via Viking Participações.[5]

Vorcaro gained public attention due to his involvement in Federal Police of Brazil investigations into a multi-billion–dollar financial scheme, which led to the extrajudicial liquidation of Banco Master in November 2025,[6][7][8] and an estimated R$ 41 billion loss to the Credit Guarantee Fund (FGC), an amount reported by the fund and the specialized press as the highest ever projected in its history.[9][10]

Life and career

Early life and career beginnings

Daniel Vorcaro was born in Belo Horizonte, Minas Gerais, the son of Henrique Vorcaro, a real estate broker, and grandson of Serafim Vorcaro, an Italian immigrant and Protestant pastor.[4] He holds a degree in Administration and an MBA from the Brazilian Institute of Capital Markets, completed in 2007.[1][11]

The family is associated with the Lagoinha Baptist Church.[9][4] Between 2008 and 2009, he hosted a gospel music program called Supersônica on Rede Super, a television station acquired by his father and linked to the church.[4] His sister, Natalia Vorcaro Zettel, is a pastor at one of the church's branches in the state capital.[9][4]

Vorcaro's first business venture occurred at age 19, when he began managing PQS Empreendimentos Educacionais, an educational course in Nova Lima, and a textbook publisher, both acquired by his father.[12] The business was subsequently sold following reports of management conflicts.[4] Starting in 2004, he entered the real estate sector through family companies such as Multipar and Mercatto.[4]

Involvement in the financial and investment industry

In 2018, Vorcaro entered an agreement to acquire Banco Máxima from Saul Sabbá, who had been restricted from banking operations by the Central Bank of Brazil.[1][13] In partnership with the Conte brothers, he obtained regulatory approval for the transfer of control in 2019, and in 2021, the institution was rebranded as Banco Master.[4] Beyond the financial sector, Vorcaro expanded his investments with stakes in the Minas Gerais-based pharmaceutical company Biomm and the São Paulo-based retail group Veste S.A. Estilo (formerly Restoque).[14] In 2023, he invested in the Football Corporation (SAF) of Clube Atlético Mineiro.[15][16]

Operational strategy and Banco Master expansion

During Vorcaro's management, Banco Master saw significant growth: between 2019 and 2024, its net worth increased from R$ 200 million to R$ 4.7 billion, and its credit portfolio grew from R$ 1.4 billion to R$ 40 billion.[9] This growth was supported by the extensive issuance of Bank Deposit Certificates (CDBs) offering returns above the market average, reaching up to 130% of the CDI.[9][11][17] The capital raised was often allocated to funds managed by the bank, which included assets from companies undergoing financial restructuring, such as Oi, Gafisa, Light S.A., CVC Brasil and Ambipar.[4][17]

To address liquidity requirements, investigations by the Public Prosecutor's Office (MPF) allege that the bank used a company called 'Tirreno'–allegedly established as a front–to create fictitious credits.[9][18][19] Vorcaro initially stated that these credits came from civil servant associations in Bahia.[9] The assets, which lacked independent backing, were subsequently sold to Banco de Brasília (BRB).[18] Investigations by the MPF indicate that BRB injected around R$ 16.7 billion into Banco Master between 2024 and 2025,[19] of which at least R$ 12.2 billion involved these particular unsecured transactions, described as a way to support the bank's financial position.[6][19][20]

In December 2024, the then-President of the Central Bank of Brazil, Roberto Campos Neto, called Vorcaro to an emergency meeting, requesting a capital injection to address liquidity concerns.[4] Under pressure from the Central Bank, Vorcaro explored the possibility of selling Banco Master to BRB and engaged prominent legal and political figures, including former President Michel Temer and former Supreme Court Justice Ricardo Lewandowski (as a consultant), to advise and represent his interests.[9] The proposed transaction, which had local political backing, was blocked by the Central Bank in September 2025 due to concerns over financial viability.[4][7][17][21] Following this decision, BRB President Paulo Henrique Costa was removed from his position.[19]

Investigations and judicial developments

On November 17, 2025, Vorcaro was taken into custody by the Federal Police of Brazil at São Paulo/Guarulhos International Airport while preparing to board his private Falcon 7X jet to Malta.[7][9] Hours earlier, the Central Bank of Brazil had ordered the extrajudicial liquidation of Banco Master, overturning the announcement made the previous day about its sale to a consortium led by Fictor Holding Financeira.[1][17][20] Vorcaro's defense stated that his intended destination was Dubai for a meeting with investors and that the travel had been communicated to the Central Bank; however, Brazilian judicial authorities interpreted the trip as an attempt to flee.[1][7][22][23] On November 28, 2025, the Regional Federal Court ordered Vorcaro's release subject to precautionary measures.[24] On December 2, 2025, Brazilian Supreme Court Minister Dias Toffoli imposed maximum secrecy on Vorcaro's defense request[25]

Personal life and wealth

Vorcaro accumulated considerable wealth. His holdings included private jets through Viking Participações and a property in Trancoso, Bahia, valued at R$ 280 million.[26][27] In 2023, he organized a 15th birthday celebration for his daughter in Nova Lima, which included international performers and accommodations for nearby residents in hotels to minimize disturbances.[26] In March 2025, he acquired a property in Trancoso,Bahia, and participated in financing the Café de La Musique Alma Rio VIP box during the Rio Carnival.[27][28]

References

  1. ^ a b c d e "Quem é Daniel Vorcaro, dono do Banco Master preso pela PF" [Who is Daniel Vorcaro, owner of Banco Master arrested by the Federal Police of Brazil]. G1 (in Brazilian Portuguese). 2025-11-18. Retrieved 2025-11-18.
  2. ^ "No Master, um 'outsider' começa a fazer barulho" [At Master, an 'outsider' starts making noise]. Brazil Journal (in Brazilian Portuguese). 2021-12-23. Retrieved 2024-07-03.
  3. ^ "Investidor do Atlético, Daniel Vorcaro se torna conselheiro grande-benemérito" [Atlético Mineiro investor Daniel Vorcaro becomes grand benefactor council member]. Rádio Itatiaia (in Brazilian Portuguese). 2024-05-01. Retrieved 2024-07-03.
  4. ^ a b c d e f g h i j k Dieguez, Consuelo (2025-11-18). "A trajetória de Daniel Vorcaro, o criador do Banco Master" [The trajectory of Daniel Vorcaro, creator of Banco Master.]. revista piauí (in Brazilian Portuguese). Retrieved 2025-11-19.
  5. ^ "Entenda operação que prendeu Daniel Vorcaro, dono do Banco Master" [Understand the operation that arrested Daniel Vorcaro, owner of Banco Master]. CNN Brasil (in Brazilian Portuguese). 2025-11-18. Retrieved 2025-11-18.
  6. ^ a b Lais Godinho (2025-11-25). "Banco Master owner transferred to prison amid R$12bn fraud probe". Valor International. Retrieved 2025-12-01.
  7. ^ a b c d "PF prende Daniel Vorcaro, dono do Banco Master, no aeroporto de Guarulhos" [Federal Police of Brazil arrests Daniel Vorcaro, owner of Banco Master, at Guarulhos Airport]. G1 (in Brazilian Portuguese). 2025-11-18. Retrieved 2025-11-18.
  8. ^ "Daniel Vorcaro, dono do Banco Master, é preso pela Polícia Federal" [Daniel Vorcaro, owner of Banco Master, is arrested by the Federal Police of Brazil]. CNN Brasil (in Brazilian Portuguese). 2025-11-18. Retrieved 2025-11-18.
  9. ^ a b c d e f g h i Juliboni, Márcio; Erlich, Felipe; Borges, Laryssa (2025-11-21). "A derrocada de um banqueiro: os bastidores da prisão de Vorcaro e do escândalo do Banco Master" [The downfall of a banker: behind the scenes of Vorcaro's arrest and the Banco Master scandal]. Veja (in Brazilian Portuguese). Retrieved 2025-12-01.
  10. ^ Moliterno, Danilo (2025-11-18). "Master será maior resgate da história do FGC, de R$ 41 bilhões" [Master to be the largest rescue in FGC history, totaling R$ 41 billion]. CNN Brasil (in Brazilian Portuguese). Retrieved 2025-12-01.
  11. ^ a b "Os negócios de alta tensão de um banco" [The high-voltage business of a bank]. revista piauí (in Brazilian Portuguese). 2024-10-23. Retrieved 2024-10-24.
  12. ^ "Dossiê Daniel Vorcaro: ascensão e queda do criador do Banco Master" [Daniel Vorcaro Dossier: rise and fall of the creator of Banco Master]. Gazeta Mercantil (in Brazilian Portuguese). 2025-11-24. Retrieved 2025-11-24.
  13. ^ "Banco Máxima revê foco e passa a se chamar Master" [Banco Máxima reviews focus and rebrands as Master]. Valor Investe (in Brazilian Portuguese). 2021-07-29. Retrieved 2024-07-31.
  14. ^ Vitória, Folha (2022-12-19). "Restoque aumenta capital com aporte de R$ 100 mi e muda o nome para Veste" [Restoque increases capital with R$ 100 million injection and changes name to Veste]. Folha Vitória (in Brazilian Portuguese). Retrieved 2024-07-03.
  15. ^ "Saiba quem é o banqueiro que será investidor da SAF do Galo" [Meet the banker who will be an investor in Galo's SAF]. O Tempo (in Brazilian Portuguese). Retrieved 2024-07-03.
  16. ^ Rezende, Laura (2024-03-11). "SAF do Atlético-MG ainda aguarda R$ 200 milhões do Fundo Galo Forte cair na conta" [Atlético-MG SAF still awaiting R$ 200 million from Galo Forte Fund to hit the account]. ge (in Brazilian Portuguese). Retrieved 2025-12-01.
  17. ^ a b c d Marcela Ayres and Ricardo Brito (2025-11-18). "Brazil central bank shuts Banco Master as police detain top investor". Reuters. Retrieved 2025-12-01.
  18. ^ a b "CDBs irreais e carteiras de crédito falsas: entenda o que está por trás da liquidação do Banco Master" [Unreal CDBs and fake credit portfolios: understand what lies behind Banco Master's liquidation]. G1 (in Brazilian Portuguese). 2025-11-18. Retrieved 2025-12-01.
  19. ^ a b c d Falcão, Márcio (2025-11-18). "BRB injetou R$ 16,7 bilhões no Banco Master entre 2024 e 2025; MP vê indícios de gestão fraudulenta" [BRB injected R$ 16.7 billion into Banco Master between 2024 and 2025; Public Prosecutor sees signs of fraudulent management]. G1 (in Brazilian Portuguese). Retrieved 2025-11-20.
  20. ^ a b Álvaro Campos , Alex Ribeiro , Tiago Angelo and Gabriel Shinohara (2025-11-18). "BC decreta liquidação do Master sob suspeita de fraude de R$ 12,2 bi e PF prende Vorcaro" [Brazil's Central Bank orders liquidation of Master under suspicion of R$ 12.2 billion fraud, and Federal Police arrest Vorcaro]. Valor Econômico (in Brazilian Portuguese). Retrieved 2025-11-20.{{cite web}}: CS1 maint: multiple names: authors list (link)
  21. ^ "BC rejeita compra do Master pelo Banco de Brasília (BRB)" [Central Bank rejects purchase of Master by Banco de Brasília (BRB)]. Agência Brasil (in Brazilian Portuguese). September 4, 2025. Retrieved 2025-11-28.
  22. ^ Saldanha, Rafael; Maia, Elijonas; Uribe, Gustavo (2025-11-18). "Daniel Vorcaro, dono do Banco Master, é preso pela Polícia Federal" [Daniel Vorcaro, owner of Banco Master, arrested by Federal Police]. CNN Brasil (in Brazilian Portuguese). Retrieved 2025-11-18.
  23. ^ Julião, Fabrício (2025-11-25). "Defesa de Vorcaro diz que BC sabia de venda do Master e viagem a Dubai" [Vorcaro's defense says Central Bank knew of Master sale and trip to Dubai]. CNN Brasil (in Brazilian Portuguese). Retrieved 2025-12-01.
  24. ^ "Justiça manda soltar Daniel Vorcaro e mais 4 diretores do Banco Master" [Court orders release of Daniel Vorcaro and 4 other Banco Master directors]. VEJA (in Brazilian Portuguese). Retrieved 2025-11-29.
  25. ^ "Toffoli decreta sigilo sobre pedido da defesa de Vorcaro" [Toffoli imposes secrecy on Vorcaro's defense request]. G1 (in Brazilian Portuguese). 2025-12-02. Retrieved 2025-12-15.
  26. ^ a b Andrade, Jô (2025-11-19). "Daniel Vorcaro apresentou programa de música gospel de igreja de BH antes de virar banqueiro" [Daniel Vorcaro hosted a church gospel music program in Belo Horizonte before becoming a banker]. G1 (in Brazilian Portuguese). Retrieved 2025-11-19.
  27. ^ a b Batista Jr., João (2025-11-18). "A farra milionária de Daniel Vorcaro na Sapucaí" [Daniel Vorcaro's millionaire spree at Sapucaí]. revista piauí (in Brazilian Portuguese). Retrieved 2025-11-19.
  28. ^ "O bilionário ostentação: luxo e poder marcaram ascensão meteórica de Daniel Vorcaro" [The ostentatious billionaire: luxury and power marked Daniel Vorcaro's meteoric rise]. Veja (in Brazilian Portuguese). 2025-11-21. Retrieved 2025-11-26.
allikas: https://en.wikipedia.org/wiki/Draft:Daniel_Vorcaro