Business · Companies · 5 hrs ago
Former Master partner says Vorcaro knew about payroll loans
Augusto Lima told Brazil’s federal police that he was not solely responsible for Banco Master’s payroll-loan business.
He made the statement on October 15, disputing Daniel Vorcaro’s account that Lima handled the loans while Vorcaro did not know their details.
The business included Credcesta, a card created in Bahia in 2018 that deducted payments from public employees’ salaries.
It later expanded to 24 Brazilian states with support from Banco Master.
Credcesta has faced thousands of lawsuits over allegations including excessive interest and salary deductions for loans that employees say they never took out.
Master also sold loan portfolios to other banks and investment funds, a system that helped it claim rapid growth.
Former Banco Master partner Augusto Lima told federal police that Daniel Vorcaro knew about the bank’s payroll-loan operations.
Lima said he was not solely responsible for the loan portfolios and disputed Vorcaro’s account of their roles.
He said the bank relied on payroll loans for revenue from 2019 through 2024 or 2025.
The bank’s main payroll-loan product was Credcesta, which sold credit portfolios to other banks and investment funds.
Vorcaro had previously told police that he knew about the general operations but did not get into their details.
- Who
- Augusto Lima, a former Banco Master partner, and Daniel Vorcaro, who gave a different account of his knowledge.
- What
- Lima told federal police that Vorcaro knew about the bank’s payroll-loan operations and that Lima was not solely responsible for them.
- When
- Lima gave his testimony on October 15. Vorcaro’s testimony was given in December; the year is not stated.
- Where
- Brasília, according to the article’s dateline; the testimony was given to Brazil’s Federal Police.
- Why
- Lima said he was rebutting what he described as untrue information in Vorcaro’s earlier testimony.
Augusto Lima
Daniel Vorcaro
Knowledge of payroll loans
Augusto Lima
Lima said Vorcaro had full knowledge of the operations.
Daniel Vorcaro
Vorcaro said he knew about the general operations but did not get into the details.
Responsibility for Credcesta
Augusto Lima
Lima said he was not the only person responsible for the payroll-loan portfolios.
Daniel Vorcaro
Vorcaro said Lima formed a team to originate the loans.
Credcesta was created in Bahia with support from Augusto Lima.
Lima said Banco Master relied on payroll loans for revenue during this period.
Lima told federal police that Vorcaro knew about the payroll-loan operations.
Vorcaro told federal police that he knew about the general operations but did not get into the details.
- Former partner
- Augusto Lima
- Bank
- Banco Master
- Main payroll-loan product
- Credcesta
- Credcesta created
- 2018, in Bahia
- Lima’s testimony
- October 15
- Credcesta reach
- 24 states
1 source
What people are saying
Me causa muita dificuldade quando o Daniel vem dar um depoimento e diz o seguinte: ‘Eu não conheço nada de consignado, quem conhecia era Augusto’.
Isso no final do dia mostra que ele tinha pleno conhecimento do que era consignado, tá certo?
Foi criada uma equipe, na época trazida pelo meu ex-sócio, que era o Augusto Lima, e ele formou uma equipe lá dentro do banco para poder fazer essas originações desses créditos