📂 Master case unsealed

At the request of Supreme Court Chief Justice Edson Fachin, Justice André Mendonça unsealed the core of the Banco Master investigation.

Master was a midsize lender liquidated in Nov. 2025 after the Central Bank found it riddled with fraud. The bank had sold bogus credit instruments, and its collapse dealt the largest loss ever to Brazil's deposit insurance fund, the FGC. Beyond being the biggest banking fraud in Brazilian history, Master became the biggest political scandal since Operation Car Wash, as it emerged that the bank's business model rested on illicit ties between its chief executive, Daniel Vorcaro, and public officials.

What the Supreme Court unsealed on Thursday night was…

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