IBOV 174,851.94 ▲ 0.47% IPSA 11,012.15 ▲ 0.56% IPC MEX 66,383.68 ▲ 0.21% MERVAL 3,291,997 ▲ 0.25% COLCAP 2,270.31 ▼ 0.19% BVL PERÚ 57,237.60 — — USD/BRL5.10▲ 0.41% USD/MXN17.45▼ 0.19% USD/CLP940.06▼ 0.93% USD/COP3,195▼ 0.68% USD/PEN3.40▼ 0.06% USD/ARS 1,497 — 0.00% USD/UYU40.15▲ 0.03% USD/PYG6,020▼ 0.02% USD/BOB11.32▲ 1.25% USD/DOP58.03▲ 0.07% USD/CRC449.99▲ 0.18% USD/GTQ7.62▼ 0.09% USD/HNL26.75▲ 0.02% USD/NIO 36.62 — 0.00% USD/VES740.37▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▼ 0.31% USD/TTD6.75▲ 0.59% EUR/BRL5.81▲ 0.40% BRENT 88.27 ▼ 8.79% WTI 82.25 ▼ 7.91% IRON ORE 161.91 — — COPPER 6.39 ▲ 1.14% GOLD 4,080 ▲ 0.31% SILVER 58.76 ▲ 0.17% SOY 1,214 ▼ 2.70% CORN 474.00 ▲ 2.10% WHEAT 660.50 ▼ 2.58% COFFEE 323.05 ▲ 2.95% SUGAR 14.56 ▼ 1.42% ORANGE JUICE 141.40 ▼ 0.25% COTTON 80.85 ▲ 2.93% COCOA 5,156 ▼ 4.09% BEEF 218.30 ▼ 3.86% CATTLE 331.28 ▼ 4.07% LITHIUM 68.15 ▲ 0.50% PETR4 41.06 ▼ 2.72% VALE3 75.17 ▼ 0.09% ITUB4 42.59 ▲ 1.16% BBDC4 18.72 ▲ 1.30% ABEV3 15.74 ▲ 0.64% BBAS3 20.56 ▲ 1.03% B3SA3 15.72 ▲ 1.81% WEGE3 45.96 ▼ 0.07% PRIO3 55.98 ▼ 4.83% SUZB3 41.67 ▼ 0.41% RENT3 37.46 ▲ 1.55% AZZA3 16.98 ▲ 1.98% CSAN3 3.91 ▲ 2.89% RAIZ4 0.25 ▼ 3.85% PCAR3 2.78 ▼ 0.36% GMAT3 3.84 ▲ 1.32% PSSA3 54.18 ▼ 1.10% CVCB3 1.34 — 0.00% POSI3 3.59 ▲ 1.13% SLCE3 13.42 ▼ 1.61% NATU3 8.59 ▲ 2.51% BRKM5 6.10 — 0.00% RANI3 7.94 ▼ 0.13% CSNA3 5.64 ▲ 5.22% CMIN3 5.73 ▲ 0.70% USIM5 8.55 ▲ 0.83% GGBR4 24.41 ▲ 0.62% ENEV3 25.43 ▲ 2.13% CPFE3 44.82 ▼ 0.60% CMIG4 11.12 ▲ 1.28% EQTL3 38.58 ▲ 0.63% LREN3 13.70 ▲ 3.24% VIVT3 36.12 ▲ 2.28% RAIL3 13.72 ▲ 1.11% KLABIN 17.64 ▲ 0.68% RAIA DROGASIL 18.20 ▲ 1.22% RDOR3 33.66 ▲ 0.84% HAPV3 10.29 ▲ 3.73% FLRY3 16.57 ▲ 1.91% SMTO3 14.74 ▼ 2.06% UGPA3 32.14 ▼ 1.74% VBBR3 34.43 ▼ 1.91% BBSE3 40.59 ▼ 2.17% BPAC11 55.65 ▲ 1.79% CURY3 30.24 ▲ 3.03% AERI3 2.04 — 0.00% VIVARA 21.91 ▲ 2.29% COMPASS 25.12 ▲ 1.45% VAMOS 3.17 ▲ 0.63% SANB11 27.25 ▲ 3.45% ASAI3 8.09 ▲ 3.06% SBSP3 28.73 ▲ 1.23% WALMEX 48.81 ▲ 1.52% GMEXICO 207.76 ▲ 0.23% FEMSA 229.90 ▲ 3.55% CEMEX 21.19 ▲ 0.24% GFNORTE 195.76 ▲ 1.82% BIMBO 59.18 ▲ 1.49% TELEVISA 9.96 ▲ 1.53% AMX 22.55 ▼ 1.14% GAP 376.17 ▼ 0.23% ASUR 270.85 ▲ 1.15% OMA 227.71 ▲ 0.69% KOF 189.55 ▲ 5.66% GRUMA 269.68 ▲ 0.67% KIMBER 39.89 ▲ 0.63% SQM-B 64,936 ▼ 0.63% COPEC 6,249 ▼ 1.27% BSANTANDER 81.13 ▲ 2.28% FALABELLA 6,137 ▲ 2.46% ENELAM 85.89 ▲ 0.47% CENCOSUD 1,938 ▼ 1.04% CMPC 1,036 ▲ 1.06% BANCO CHILE 194.69 ▲ 0.82% LATAM AIR 24.61 ▲ 3.06% YPF 81,150 ▼ 1.04% GGAL 7,970 ▲ 1.01% PAMPA 5,475 ▼ 0.73% TXAR 665.00 ▼ 1.34% ALUAR 973.00 ▲ 0.10% TGS 9,790 ▲ 0.26% CEPU 2,374 ▲ 0.38% MIRGOR 16,300 ▼ 1.36% COME 42.99 ▲ 1.37% LOMA NEGRA 3,680 ▲ 1.94% BYMA 302.00 ▲ 0.50% TELECOM ARG 4,415 ▲ 0.80% ECOPETROL 15.77 ▼ 1.53% BANCOLOMBIA 88.11 ▲ 2.44% GRUPO AVAL 4.78 — 0.00% CREDICORP 389.74 ▲ 0.34% SOUTHERN COPPER 176.88 ▼ 1.34% BUENAVENTURA 31.30 ▲ 1.26% MERCADOLIBRE 1,837 ▲ 1.99% NUBANK 14.57 ▲ 3.37% XP 16.85 ▲ 0.93% PAGSEGURO 9.38 ▲ 1.96% STONE 10.95 ▲ 1.78% GLOBANT 33.45 ▲ 6.87% TECNOGLASS 45.45 ▲ 0.33% GAP AIRPORT 215.31 ▼ 0.45% ASUR 270.85 ▲ 1.15% OMA AIRPORT 104.45 ▲ 0.99% AMX ADR 25.76 ▼ 0.98% FEMSA ADR 131.95 ▲ 3.80% CEMEX ADR 12.13 ▲ 0.58% PETROBRAS ADR 18.11 ▼ 3.54% VALE ADR 14.69 ▼ 0.71% ITAU ADR 8.32 ▲ 0.48% SANTANDER BR 5.47 ▲ 3.11% AMBEV ADR 3.05 ▼ 0.25% CSN 1.12 ▲ 3.49% GERDAU 4.80 ▼ 0.26% LATAM ADR 52.14 ▲ 3.97% BTC 64,784 ▼ 0.85% ETH 1,936 ▼ 0.91% SOL 75.52 ▼ 1.41% XRP 1.09 ▼ 1.89% BNB 573.30 ▼ 0.21% ADA 0.16 ▼ 4.17% DOGE 0.07 ▼ 2.11% AVAX 6.55 ▼ 2.74% LINK 8.59 ▼ 2.48% DOT 0.79 ▼ 4.12% LTC 46.36 ▼ 3.00% BCH 214.99 ▼ 0.84% TRX 0.33 ▼ 1.31% XLM 0.18 ▼ 3.09% HBAR 0.07 ▼ 1.84% NEAR 1.76 ▼ 4.19% ATOM 1.35 ▼ 3.53% AAVE 99.42 ▼ 2.06% SELIC 14.25% EMBRAER 86.45 ▲ 4.79% EMBRAER ADR 67.78 ▲ 4.39% JBS 13.49 ▲ 9.81% JBS BDR 68.71 ▲ 10.75% MBRF3 15.70 ▲ 5.80% MBRFY 3.00 ▲ 2.04% INTER 5.56 ▲ 5.10% EGX 53,634 ▲ 0.40% USD/ZAR16.76▼ 0.46% USD/NGN1,361▼ 0.31% NIKKEI 64,931 ▲ 0.50% CSI300 4,702 ▲ 1.15% HSI 25,207 ▲ 0.98% NIFTY 23,996 ▲ 0.96% KOSPI 6,756 ▲ 0.97% JCI 6,186 ▼ 0.17% USD/JPY163.71▲ 0.05% USD/CNY6.75▼ 0.31% DAX 25,361 ▲ 1.04% CAC 8,406 ▲ 0.40% FTSE 10,782 ▲ 0.42% MIB 52,055 ▲ 0.49% IBEX 19,741 ▲ 0.80% STOXX 644.62 ▲ 0.02% EUR/USD 1.1375 — 0.00% GBP/USD1.33▼ 0.34% SPX 7,394 ▼ 0.24% DJI 52,064 ▲ 0.23% NDX 27,897 ▼ 0.82% RUT 2,943 ▲ 0.43% TSX 35,434 ▲ 0.18% VIX 19.24 ▲ 3.55% USD/CAD1.41▲ 0.28% US10Y 4.6470 ▼ 0.68% IBOV 174,851.94 ▲ 0.47% IPSA 11,012.15 ▲ 0.56% IPC MEX 66,383.68 ▲ 0.21% MERVAL 3,291,997 ▲ 0.25% COLCAP 2,270.31 ▼ 0.19% BVL PERÚ 57,237.60 — — USD/BRL 5.10 ▲ 0.41% USD/MXN 17.45 ▼ 0.19% USD/CLP 940.06 ▼ 0.93% USD/COP 3,193 ▼ 0.75% USD/PEN 3.40 ▼ 0.06% USD/ARS 1,497 — 0.00% USD/UYU 40.15 ▲ 0.03% USD/PYG 6,020 ▼ 0.02% USD/BOB 11.32 ▲ 1.25% USD/DOP 58.03 ▲ 0.07% USD/CRC 449.99 ▲ 0.18% USD/GTQ 7.62 ▼ 0.09% USD/HNL 26.75 ▲ 0.02% USD/NIO 36.62 — 0.00% USD/VES 740.37 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.98 ▼ 0.12% USD/TTD 6.75 ▲ 1.28% EUR/BRL 5.81 ▲ 0.40% BRENT 88.27 ▼ 8.79% WTI 82.25 ▼ 7.91% IRON ORE 161.91 — — COPPER 6.39 ▲ 1.14% GOLD 4,080 ▲ 0.31% SILVER 58.76 ▲ 0.17% SOY 1,214 ▼ 2.70% CORN 474.00 ▲ 2.10% WHEAT 660.50 ▼ 2.58% COFFEE 323.05 ▲ 2.95% SUGAR 14.56 ▼ 1.42% ORANGE JUICE 141.40 ▼ 0.25% COTTON 80.85 ▲ 2.93% COCOA 5,156 ▼ 4.09% BEEF 218.30 ▼ 3.86% CATTLE 331.28 ▼ 4.07% LITHIUM 68.15 ▲ 0.50% PETR4 41.06 ▼ 2.72% VALE3 75.17 ▼ 0.09% ITUB4 42.59 ▲ 1.16% BBDC4 18.72 ▲ 1.30% ABEV3 15.74 ▲ 0.64% BBAS3 20.56 ▲ 1.03% B3SA3 15.72 ▲ 1.81% WEGE3 45.96 ▼ 0.07% PRIO3 55.98 ▼ 4.83% SUZB3 41.67 ▼ 0.41% RENT3 37.46 ▲ 1.55% AZZA3 16.98 ▲ 1.98% CSAN3 3.91 ▲ 2.89% RAIZ4 0.25 ▼ 3.85% PCAR3 2.78 ▼ 0.36% GMAT3 3.84 ▲ 1.32% PSSA3 54.18 ▼ 1.10% CVCB3 1.34 — 0.00% POSI3 3.59 ▲ 1.13% SLCE3 13.42 ▼ 1.61% NATU3 8.59 ▲ 2.51% BRKM5 6.10 — 0.00% RANI3 7.94 ▼ 0.13% CSNA3 5.64 ▲ 5.22% CMIN3 5.73 ▲ 0.70% USIM5 8.55 ▲ 0.83% GGBR4 24.41 ▲ 0.62% ENEV3 25.43 ▲ 2.13% CPFE3 44.82 ▼ 0.60% CMIG4 11.12 ▲ 1.28% EQTL3 38.58 ▲ 0.63% LREN3 13.70 ▲ 3.24% VIVT3 36.12 ▲ 2.28% RAIL3 13.72 ▲ 1.11% KLABIN 17.64 ▲ 0.68% RAIA DROGASIL 18.20 ▲ 1.22% RDOR3 33.66 ▲ 0.84% HAPV3 10.29 ▲ 3.73% FLRY3 16.57 ▲ 1.91% SMTO3 14.74 ▼ 2.06% UGPA3 32.14 ▼ 1.74% VBBR3 34.43 ▼ 1.91% BBSE3 40.59 ▼ 2.17% BPAC11 55.65 ▲ 1.79% CURY3 30.24 ▲ 3.03% AERI3 2.04 — 0.00% VIVARA 21.91 ▲ 2.29% COMPASS 25.12 ▲ 1.45% VAMOS 3.17 ▲ 0.63% SANB11 27.25 ▲ 3.45% ASAI3 8.09 ▲ 3.06% SBSP3 28.73 ▲ 1.23% WALMEX 48.81 ▲ 1.52% GMEXICO 207.76 ▲ 0.23% FEMSA 229.90 ▲ 3.55% CEMEX 21.19 ▲ 0.24% GFNORTE 195.76 ▲ 1.82% BIMBO 59.18 ▲ 1.49% TELEVISA 9.96 ▲ 1.53% AMX 22.55 ▼ 1.14% GAP 376.17 ▼ 0.23% ASUR 270.85 ▲ 1.15% OMA 227.71 ▲ 0.69% KOF 189.55 ▲ 5.66% GRUMA 269.68 ▲ 0.67% KIMBER 39.89 ▲ 0.63% SQM-B 64,936 ▼ 0.63% COPEC 6,249 ▼ 1.27% BSANTANDER 81.13 ▲ 2.28% FALABELLA 6,137 ▲ 2.46% ENELAM 85.89 ▲ 0.47% CENCOSUD 1,938 ▼ 1.04% CMPC 1,036 ▲ 1.06% BANCO CHILE 194.69 ▲ 0.82% LATAM AIR 24.61 ▲ 3.06% YPF 81,150 ▼ 1.04% GGAL 7,970 ▲ 1.01% PAMPA 5,475 ▼ 0.73% TXAR 665.00 ▼ 1.34% ALUAR 973.00 ▲ 0.10% TGS 9,790 ▲ 0.26% CEPU 2,374 ▲ 0.38% MIRGOR 16,300 ▼ 1.36% COME 42.99 ▲ 1.37% LOMA NEGRA 3,680 ▲ 1.94% BYMA 302.00 ▲ 0.50% TELECOM ARG 4,415 ▲ 0.80% ECOPETROL 15.77 ▼ 1.53% BANCOLOMBIA 88.11 ▲ 2.44% GRUPO AVAL 4.78 — 0.00% CREDICORP 389.74 ▲ 0.34% SOUTHERN COPPER 176.88 ▼ 1.34% BUENAVENTURA 31.30 ▲ 1.26% MERCADOLIBRE 1,837 ▲ 1.99% NUBANK 14.57 ▲ 3.37% XP 16.85 ▲ 0.93% PAGSEGURO 9.38 ▲ 1.96% STONE 10.95 ▲ 1.78% GLOBANT 33.45 ▲ 6.87% TECNOGLASS 45.45 ▲ 0.33% GAP AIRPORT 215.31 ▼ 0.45% ASUR 270.85 ▲ 1.15% OMA AIRPORT 104.45 ▲ 0.99% AMX ADR 25.76 ▼ 0.98% FEMSA ADR 131.95 ▲ 3.80% CEMEX ADR 12.13 ▲ 0.58% PETROBRAS ADR 18.11 ▼ 3.54% VALE ADR 14.69 ▼ 0.71% ITAU ADR 8.32 ▲ 0.48% SANTANDER BR 5.47 ▲ 3.11% AMBEV ADR 3.05 ▼ 0.25% CSN 1.12 ▲ 3.49% GERDAU 4.80 ▼ 0.26% LATAM ADR 52.14 ▲ 3.97% BTC 64,784 ▼ 0.85% ETH 1,936 ▼ 0.91% SOL 75.52 ▼ 1.41% XRP 1.09 ▼ 1.89% BNB 573.30 ▼ 0.21% ADA 0.16 ▼ 4.17% DOGE 0.07 ▼ 2.11% AVAX 6.55 ▼ 2.74% LINK 8.59 ▼ 2.48% DOT 0.79 ▼ 4.12% LTC 46.36 ▼ 3.00% BCH 214.99 ▼ 0.84% TRX 0.33 ▼ 1.31% XLM 0.18 ▼ 3.09% HBAR 0.07 ▼ 1.84% NEAR 1.76 ▼ 4.19% ATOM 1.35 ▼ 3.53% AAVE 99.42 ▼ 2.06% SELIC 14.25% EMBRAER 86.45 ▲ 4.79% EMBRAER ADR 67.78 ▲ 4.39% JBS 13.49 ▲ 9.81% JBS BDR 68.71 ▲ 10.75% MBRF3 15.70 ▲ 5.80% MBRFY 3.00 ▲ 2.04% INTER 5.56 ▲ 5.10% EGX 53,634 ▲ 0.40% USD/ZAR 16.75 ▼ 0.39% USD/NGN 1,361 ▼ 0.15% NIKKEI 64,931 ▲ 0.50% CSI300 4,702 ▲ 1.15% HSI 25,207 ▲ 0.98% NIFTY 23,996 ▲ 0.96% KOSPI 6,756 ▲ 0.97% JCI 6,186 ▼ 0.17% USD/JPY 163.70 ▼ 0.05% USD/CNY 6.7514 ▼ 0.30% DAX 25,361 ▲ 1.04% CAC 8,406 ▲ 0.40% FTSE 10,782 ▲ 0.42% MIB 52,055 ▲ 0.49% IBEX 19,741 ▲ 0.80% STOXX 644.62 ▲ 0.02% EUR/USD 1.1375 — 0.00% GBP/USD 1.3291 ▼ 0.21% SPX 7,394 ▼ 0.24% DJI 52,064 ▲ 0.23% NDX 27,897 ▼ 0.82% RUT 2,943 ▲ 0.43% TSX 35,434 ▲ 0.18% VIX 19.24 ▲ 3.55% USD/CAD 1.4121 ▲ 0.21% US10Y 4.6470 ▼ 0.68%
since 2009
Monday, July 27, 2026

Brazil Probes Dark Horse Film on Ex-President Bolsonaro

By · July 24, 2026 · 5 min read

Daily Brief

The morning intel from across Latin America. Free.

By subscribing you agree to our privacy policy. We never share your email.

Politics

Key Facts

The move. STF Justice André Mendonça authorized the Federal Police to investigate the financing of Dark Horse, a film about Jair Bolsonaro.

The trigger. It followed a favorable opinion from the Prosecutor-General’s Office; the request came from deputy Lindbergh Farias.

The allegation. The inquiry centers on funds tied to former banker Daniel Vorcaro, owner of Banco Master.

The links alleged. Investigators are asked to examine money said to be routed to the production, connected to Senator Flávio Bolsonaro and to Eduardo Bolsonaro’s activities in the United States.

The status. The case is under confidentiality, and no charges have been filed.

A film about Jair Bolsonaro has drawn the attention of Brazil’s Federal Police, over who paid for it. Justice André Mendonça authorized an inquiry into the financing of the Dark Horse film, a biopic of the former president.

Film production camera
A film production camera. (Photo: Wikimedia Commons)
One-stop reference
Company Intelligence
Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.
Browse the directory →
RT
Ask Rio Times
This story and the bigger picture.
Open the full Ask Rio Times →

A biographical film about former president Jair Bolsonaro, titled Dark Horse, has become the subject of a criminal inquiry, not over its content, but over how it was funded.

Brazil’s Supreme Court has cleared the Federal Police to look into the money behind it.

In Brazil, the Federal Police is the country’s top investigative body, handling crimes that cross state lines or involve federal interests. When a case touches a sitting or former federal deputy or senator, it falls under the jurisdiction of the Supreme Federal Court, known by its Portuguese initials STF.

That is why a single justice, in this case André Mendonça, can authorize an inquiry rather than a lower-court judge.

What Mendonça Authorized

Justice André Mendonça authorized the investigation after the Prosecutor-General’s Office issued a favorable opinion. The request came from deputy Lindbergh Farias, of the governing Workers’ Party.

The complaint alleges possible irregularities in the film’s financing by Daniel Vorcaro, the former banker who owns Banco Master.

The Prosecutor-General’s Office, or PGR, acts as a gatekeeper in many high-profile cases. Before the Supreme Court can open an inquiry, the PGR typically reviews the request and issues an opinion on whether it has legal merit.

A favorable opinion does not mean the accusation is true; it means the request meets the basic threshold to warrant investigation.

The Alleged Connections

Investigators are being asked to examine whether resources meant for the production were linked to Senator Flávio Bolsonaro and to the US activities of former deputy Eduardo Bolsonaro.

The case is being handled under confidentiality at the Supreme Court, a status meant to protect sensitive information during an investigation.

Confidentiality in Brazilian judicial inquiries means the case file is sealed from the public. Only the parties directly involved and their lawyers can access the documents.

This is standard practice early in an investigation, to avoid tipping off potential targets or tainting evidence before formal charges are considered.

Why It Matters

An inquiry authorizes investigators to gather evidence; it is not a finding of wrongdoing, and no charges have been filed. Members of the Bolsonaro family have generally rejected accusations against them.

Still, the case ties a cultural project to the wider legal scrutiny surrounding the former president and his allies, and to questions about Banco Master, already under the spotlight in Brazil.

For a foreign reader, it helps to understand that in Brazil’s political landscape, the Bolsonaro family has long been a central force. Jair Bolsonaro’s sons have held elected office and built their own political profiles.

Senator Flávio Bolsonaro represents Rio de Janeiro, while Eduardo Bolsonaro, a former federal deputy, has maintained a visible presence in conservative circles in the United States. Any investigation that touches them inevitably draws national attention.

A Case Tied to Wider Scrutiny

The inquiry lands amid intense legal attention on former president Jair Bolsonaro and his circle, spanning the January 8 events and other investigations. A film’s finances are a new thread in that broader web.

Banco Master, whose former owner is named in the complaint, has itself been under scrutiny in Brazil, which sharpens interest in the money trail. Investigators will look at how funds moved and to what end.

The Bolsonaro family has repeatedly rejected accusations against it and cast the investigations as politically driven. That framing is part of a polarized national debate over the courts.

Because an inquiry only authorizes evidence-gathering, its significance depends on what, if anything, it uncovers. The confidentiality around the case means details may stay scarce for some time.

What to watch next is whether the Federal Police will seek to lift banking or tax secrecy on the individuals and entities named. Another open question is whether the investigation will expand to include testimony from film producers or intermediaries who handled the production’s budget.

The timeline for any public development remains uncertain, given the confidential nature of the probe.

Frequently Asked Questions

What is the Dark Horse inquiry about?

STF Justice André Mendonça authorized the Federal Police to investigate the financing of Dark Horse, a film about Jair Bolsonaro, focusing on funds allegedly tied to former banker Daniel Vorcaro of Banco Master.

Who requested the investigation?

It was requested by deputy Lindbergh Farias of the Workers’ Party, and authorized after a favorable opinion from the Prosecutor-General’s Office.

Have charges been filed?

No. The inquiry allows investigators to gather evidence and is not a finding of wrongdoing. The case is under confidentiality and no charges have been filed.

Sources

Connected Coverage

Sources: STF Justice André Mendonça; Prosecutor-General's Office; deputy Lindbergh Farias.

Read More from The Rio Times

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.