IBOV 185,229.17 ▼ 0.41% IPSA 11,381.18 ▲ 1.30% IPC MEX 63,375.93 ▼ 0.78% MERVAL 3,021,926 ▼ 1.29% COLCAP 2,548.22 ▲ 1.05% BVL PERÚ 60,023.65 ▼ 1.13% USD/BRL5.14▲ 0.26% USD/MXN17.22▼ 0.01% USD/CLP959.00▼ 0.31% USD/COP3,175▲ 1.37% USD/PEN3.37▼ 0.10% USD/ARS1,514▲ 0.26% USD/UYU40.16▲ 2.90% USD/PYG5,906▲ 2.95% USD/BOB9.95▼ 6.56% USD/DOP58.83▲ 0.22% USD/CRC444.45▲ 2.49% USD/GTQ7.63▲ 3.03% USD/HNL26.85▲ 0.38% USD/NIO36.62— 0.00% USD/VES846.42▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.75▲ 2.57% EUR/BRL5.91▲ 0.04% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 185,229.17 ▼ 0.41% IPSA 11,381.18 ▲ 1.30% IPC MEX 63,375.93 ▼ 0.78% MERVAL 3,021,926 ▼ 1.29% COLCAP 2,548.22 ▲ 1.05% BVL PERÚ 60,023.65 ▼ 1.13% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
since 2009
Sunday, September 20, 2026

Brazil Banco Master Probe: Justices Say They Cannot Open Vorcaro’s Phone

By · September 20, 2026 · 7 min read

The LatAm Brief

One email, every weekday morning. What moved in Latin American markets, politics and expat life.

Yesterday’s subject line: “Bolivia's 83% fuel shock, hours after the IMF loan”

Free. We send a confirmation link first — nothing arrives until you click it. Unsubscribe with one click in any edition. If you stop opening us for 30 days we stop sending by ourselves, as we assume the interest is no longer there. See our privacy policy. We never share your email.

Brazil · Banco Master

Key Facts

The letters. Justices André Mendonça and Luiz Fux told police on 19 September they could not open Vorcaro’s phone copy.
The data. The copy holds about 500 gigabytes taken from the phone of Daniel Vorcaro, the jailed founder of Banco Master.
The petition. Deputy Nikolas Ferreira asked court president Edson Fachin to suspend prosecutor-general Paulo Gonet as a precaution.
The photo. Gazeta do Povo says a London photo of Gonet and Vorcaro undercuts his account of a banal contact.
The claim. Candidate Ronaldo Caiado said Vorcaro bought both sides of politics but offered no evidence.
What comes next. The prosecution service’s governing council meets on 25 September to weigh messages that mention Gonet.

Two of Brazil’s Supreme Court justices say they cannot read the phone at the centre of the country’s largest bank failure. André Mendonça and Luiz Fux wrote to the Federal Police on Saturday 19 September to ask for technical help.

The same day, a federal deputy asked the court to suspend Paulo Gonet, the prosecutor-general who decides whether anyone is charged. Together the two moves push the Banco Master case further from finance and deeper into Brazil’s institutions.

The mirrored twin towers of Brazil's Prosecutor-General's Office in Brasília at dusk
The Prosecutor-General’s Office in Brasília, headed by Paulo Gonet, whose removal a federal deputy has asked the Supreme Court to consider (Photo: Josue Marinho, CC BY 3.0 via 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 →

What the Justices Told the Police

Each justice sent a formal letter to Andrei Rodrigues, director-general of the Federal Police, G1 and O Globo reported. Both said their offices had not gained effective access to the material by Saturday afternoon.

They cited either technical difficulties or a defect in the media the police had delivered. The copy runs to about 500 gigabytes of data, according to UOL.

The police had handed full copies to the two justices on Thursday 17 September, after both asked for the complete contents. Neither letter accuses the police of wrongdoing or suggests the data was altered.

Access matters because the phone reaches into the court itself. Folha de S.Paulo has published messages from it that mention Mendonça and the sons of Fux and of Justice Kassio Nunes Marques.

Who Daniel Vorcaro Is

Vorcaro founded Banco Master, a mid-sized São Paulo lender that Brazil’s central bank ordered liquidated on 18 November 2025. The failure left the deposit guarantee fund with a bill of R$51.8 billion (about US$10.1 billion).

He has been held in pre-trial detention since March 2026. He has not been charged, and the police inquiry into the bank is still open.

A Deputy Asks the Court to Suspend Gonet

Nikolas Ferreira, a federal deputy for the right-wing PL party from Minas Gerais, sent his request to court president Edson Fachin on Saturday. It asks for Gonet’s precautionary removal and for the matter to go to the court’s competent body, Estado de Minas reported.

The request was lodged that day and now depends on analysis inside the court, Metrópoles reported. No date has been set for any decision.

Gonet matters because of what his office alone can do. Only the prosecutor-general can bring a criminal case against officials tried at the Supreme Court.

When he asks the court to shelve such a case, that request is as a rule decisive. The man now under pressure is therefore the man who will decide what happens to the Banco Master inquiry.

The Photo and the Banal Account

Gonet told the prosecution service’s governing council on 15 September that he met Vorcaro in person only once, in London in April 2024. He called a phone call arranged by a lawyer very brief and banal, G1 reported.

Gazeta do Povo argued on Saturday that a photo of the two men at a London cigar tasting undercuts that account. Estadão reported that the lawyer Ciro Soares, whom police describe as the bridge between them, also appears in the picture.

Gonet’s office has confirmed the meeting and noted that Justice Mendonça said in a court session he found no wrongdoing by the prosecutor-general. The Rio Times reported the photo itself on 19 September.

Senator Flávio Bolsonaro, the leading right-wing presidential candidate, said the episode showed officials laughing in the face of suffering Brazilians, Gazeta do Povo reported. With the first round due on 4 October, the case is now campaign material.

A Governor’s Unproven Claim

Ronaldo Caiado, governor of Goiás and presidential candidate of the PSD party, went further at a campaign event on 17 September. Vorcaro bought both sides, he said, according to G1.

Caiado named Justice Alexandre de Moraes, said President Lula came in the package, and also named Flávio Bolsonaro. He offered no evidence in the remarks G1 reported, and no response from the three men was found.

No court, police report or prosecutor has found that Vorcaro paid Moraes, Lula or Flávio Bolsonaro. The claim stands as an accusation by a rival candidate, not as an established fact.

What Comes Next

The prosecution service’s governing council meets on Friday 25 September to consider messages that mention Gonet. Because Gonet normally chairs it, the matter went to the council’s vice-president, Gazeta do Povo has reported.

The police must still finish their inquiry into the bank before any charge can be weighed. That decision, when it comes, rests with the prosecutor-general whose own conduct is now under review.

For foreign savers and investors, the bank itself is largely a closed chapter, because insured deposits were repaid through the guarantee fund. The open question is whether Brazil’s top legal institutions can close the case without their own neutrality in doubt.

Frequently Asked Questions

Why can the justices not open Vorcaro’s phone data?

They told the Federal Police the cause was either a technical difficulty or a defect in the media delivered. They asked the police for technical help on 19 September.

Who is Paulo Gonet?

He is Brazil’s prosecutor-general and head of the federal prosecution service. Only he can bring criminal cases against officials tried at the Supreme Court.

What did Nikolas Ferreira ask for?

He asked Supreme Court president Edson Fachin to remove Gonet from office as a precaution. The request awaits analysis inside the court and no date has been set.

Did Vorcaro buy judges or politicians?

That is an allegation by presidential candidate Ronaldo Caiado, made without evidence. No court or investigation has found that Vorcaro paid Moraes, Lula or Flávio Bolsonaro.

Has Daniel Vorcaro been charged?

No. He has been in pre-trial detention since March 2026 while the Federal Police inquiry continues.

Sources: G1, on the justices’ letters to the Federal Police, O Globo, on Fux’s letter, Metrópoles, on Nikolas Ferreira’s request, Gazeta do Povo, on the brief and banal account, Estadão, on what is known of Gonet and Vorcaro, G1, on Caiado’s remarks, Folha de S.Paulo, on messages mentioning justices

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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.