Galo shareholder Daniel Vorcaro held in bank fraud probe | OneFootball

The Federal Police arrested banker Daniel Vorcaro, controller of Banco Master, on Tuesday (18) at Guarulhos Airport (SP) during the so-called Operation Compliance Zero, which investigates alleged fraud involving the issuance of fake credit securities by financial institutions.

According to the Federal Police, the operation executes warrants in five states (São Paulo, Rio de Janeiro, Minas Gerais, Bahia) and in the Federal District, including preventive and temporary arrests, as well as search and seizure.

Investigators are looking into crimes such as fraudulent management, reckless management, and criminal organization, in a scheme that would involve the creation of unsecured credit portfolios. Additionally, the Central Bank decreed the extrajudicial liquidation of Banco Master, removing it from the financial system. All assets of the bank's controllers have been frozen.

The Federal Police states that Vorcaro was monitored and detained before he could board a flight abroad: he allegedly tried to leave Brazil via Guarulhos Airport. His passport was also seized.

It is worth noting that Vorcaro's arrest also impacts football: he is one of the main shareholders of the SAF (Sociedade Anônima de Futebol) of Atlético Mineiro. He invested through the Galo Forte FIP, a fund managed by Banco Master, initially contributing R$ 100 million to acquire about 8.2% of Galo Holding (the controller of SAF).

In 2024, he made a new contribution of R$ 200 million, increasing his stake to 20.2% of the holding, second only to the Menin family – who hold more than 40% of SAF's shares and are the majority partners – within the composition of the Atlético SAF.

This is not the first time Daniel Vorcaro's name has made headlines in police reports: a month ago, the São Paulo Public Prosecutor's Office was investigating the origin of investment funds that may have been used in the contribution the businessman made to Galo. According to the inquiry, the amounts may be the result of money laundering for the criminal faction “PCC.”

At the time, Atlético issued a statement saying: “The Galo Forte Multistrategy Investment Fund is a duly constituted and regular investment vehicle before the Securities and Exchange Commission (“CVM”), under the administration of Trustee Distribuidora de Títulos e Valores Mobiliários LTDA.”

This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.