INVESTIGATIONS
Banco Master: Plea deal prospects scare Brasília

Demonstrators set fire to a photo of Daniel Vorcaro during a protest in front of Banco Master’s São Paulo headquarters. Photo: Amanda Perobelli/Reuters/Folhapress
The Banco Master case remains the most delicate issue in Brasília. Walfrido Warde, a lawyer who helped orchestrate an aggressive legal strategy for Daniel Vorcaro, the bank’s owner, left Vorcaro’s defense team on Wednesday — a move that unsettled the political class and fueled speculation about a possible plea agreement.
Warde has historically advised his clients against collaboration deals and, according to multiple reports, he chose to step away from the case rather than endorse that route. This was read as a sign that the option is at least being considered. Officially, however, Vorcaro’s defense team — which, even without Warde, is still a collection of some of the country’s highest-profile lawyers — reaffirms his innocence and says a plea deal is not under consideration “at this moment.”
As federal investigators peel back the layers of his business dealings, Vorcaro increasingly resembles a corporate villain worthy of comic books. His financial empire has been linked to…

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