# Former Banco Master owner charged in fraud case

> Brazil’s Federal Police charged former banker Daniel Vorcaro and 14 others for financial fraud at state-owned bank BRB.
- Title: Former Banco Master owner charged in fraud case | Shortify
- Summary: Brazil’s Federal Police charged former banker Daniel Vorcaro and 14 others for financial fraud at state-owned bank BRB.
- Keywords: brazil, federal police, brb, bancos master, operation compliance zero, fraud case, daniel vorcaro, brazilian bank, financial fraud, brazilian state bank, Agência Brasil
- Source: Agência Brasil — https://agenciabrasil.ebc.com.br/en/justica/noticia/2026-10/former-banco-master-owner-daniel-vorcaro-charged-fraud-case
- Published: 2026-10-29T16:47:00+00:00
- Read time: 1 min
- Topics: brazil, federal police, brb, bancos master, operation compliance zero, fraud case, daniel vorcaro, brazilian bank, financial fraud, brazilian state bank, news
## Charges filed
Brazil’s Federal Police charged former banker Daniel Vorcaro and 14 others under investigation for financial fraud at state-owned bank BRB.
## Losses confirmed
Federal investigators determined BRL 2.7 billion in losses to BRB from irregular loan portfolios held by shell company Tirreno.
## Defense response
Vorcaro’s defense team denied BRB’s transactions with Tirreno caused losses, stating portfolios were replaced by other assets with positive results.
## Investigation extension
Supreme Court will extend probes for 60 days to complete forensic examinations and submit supplementary report.
## Key takeaway

Former Banco Master owner Daniel Vorcaro and 14 others charged with causing BRL 2.7 billion losses to Brazil’s state-owned bank BRB through fraudulent transactions.