Politics · Brazil · 4 hrs ago
Brazil's top court gives prosecutors 15 days to review Banco Master case
Brazil's Federal Police indicted 15 people over alleged fraud in deals between Banco Master and state-owned BRB, the Bank of Brasília.
Those named include former Banco Master owner Daniel Vorcaro and former BRB president Paulo Henrique Costa.
Supreme Court President Edson Fachin gave prosecutors 15 days to respond to a partial police investigation report and requests from the people under investigation.
The case is part of Operation Compliance Zero, which examines alleged fake credit instruments and other financial crimes.
The deals involved about 17.5 billion reais in assets and credit portfolios, and police say at least 12.2 billion reais involved credits with no proof they existed.
Police have asked for 60 more days to complete forensic work and other investigative steps.
The prosecutor-general may seek further investigative work or file formal charges after reviewing the report.
Supreme Court President Edson Fachin gave Brazil’s prosecutor general 15 days to respond to a Federal Police report indicting Daniel Vorcaro and 14 others.
The partial report concerns alleged fraud in transactions between Banco Master and BRB, the Bank of Brasília.
The prosecutor general must also address requests and proposed measures from the people under investigation.
The police report, which is more than 700 pages long, was sent to the Supreme Court on October 28.
The Federal Police asked for the investigation to be extended by 60 days to complete expert examinations and further inquiries.
- Who
- Supreme Court President Edson Fachin set the deadline for the Office of the Prosecutor General to respond to a Federal Police report.
- What
- The report indicts Daniel Vorcaro and 14 others over alleged fraud in transactions between Banco Master and BRB.
- When
- Fachin issued the decision on Wednesday, November 4. The report was sent to the Supreme Court on October 28.
- Where
- Brazil’s Supreme Federal Court.
- Why
- The prosecutor general must respond to the partial police report and to requests from those under investigation.
This story does not have two clearly opposing sides.
The Federal Police sent its more than 700-page partial report to the Supreme Court.
Fachin gave the prosecutor general 15 days to respond to the report and the requests made by those under investigation.
- Deadline
- 15 days
- People indicted
- Daniel Vorcaro and 14 others
- Report length
- More than 700 pages
- Assets and credit portfolios involved
- About R$17.5 billion
- Credits allegedly lacking proof of existence
- At least R$12.2 billion
- Requested investigation extension
- 60 days
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