Police Say Vorcaro Sought a File on Itaú’s Chief Executive
BRAZIL · JUSTICE
Key Facts
- —The allegation Federal Police say Daniel Vorcaro asked a publicist to compile material on Itaú Unibanco chief executive Milton Maluhy Filho.
- —The document A file marked confidential, carrying personal and asset information on Maluhy and his wife Camila Moretti Maluhy.
- —Who allegedly made it Thiago Miranda, owner of the communications firm Agencia MiThi, whose visual identity the document reportedly carried.
- —When it surfaced In a police report cited in a Supreme Court decision on 9 July 2026, during the tenth phase of Operation Compliance Zero.
- —The other targets Police say Miranda also compiled material on journalists Malu Gaspar and Consuelo Dieguez.
- —Nothing proven No charge has been reported over the dossier itself. Miranda’s defence categorically denies illegality.
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The dossier allegation is part of the same police investigation now shaking the Supreme Court. It is an allegation, and it has not been tested.
Brazilian federal police allege that Daniel Vorcaro, the jailed former owner of Banco Master, asked a publicist to compile a file on Itaú Unibanco’s chief executive. The allegation appears in a police report cited in a Supreme Court decision.
What Police Say They Found
Investigators describe a document titled as a report on the Maluhy family, marked as confidential information, containing personal and asset details on the couple.
The target is Milton Maluhy Filho, chief executive of Itaú Unibanco since 2021, and his wife, Camila Moretti Maluhy. Maluhy was also elected president of the board of Febraban in April 2026.
The document reportedly carried the visual identity of Agencia MiThi, the firm owned by the publicist Thiago Miranda.
Police identify Miranda as the principal operator of a communications effort run on Vorcaro’s behalf.
The Messages Cited
In exchanges quoted from the investigation, Vorcaro tells Miranda he needs a survey done on Milton Maluhy, and that the executive is causing him a great deal of trouble. He asks for help with it.
Miranda replies that he will take care of it. In a later message he says they will talk after Carnival, and that he has everything ready on Maluhy.
He is also quoted saying he intended to release information through another outlet.
The precise dates of these messages have not been published. The Carnival reference points to early 2026 but that is inference rather than record.
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Where This Sits Legally
What is established is procedural. Police executed two search warrants against Miranda in Brasília on 9 July 2026, in the tenth phase of Operation Compliance Zero, authorised by Supreme Court Justice Andre Mendonça.
The dossier allegation sits inside that existing investigation rather than in a separate inquiry opened about the dossier itself.
What is not established is whether the document was delivered or used, or whether producing it broke any law. No charge specific to the dossier has been reported.
Miranda’s defence denied any illegality, invoked the presumption of innocence and offered to cooperate. Itaú declined to comment.
Police say Miranda’s wider suspected conduct includes intimidation of journalists, illegal monitoring and coordinated attacks on the central bank’s credibility. Those too are allegations.
Why Vorcaro Is in Custody
He was arrested at Guarulhos airport on 17 November 2025 while attempting to leave for Malta by private jet. The central bank decreed Banco Master’s liquidation the following day.
The federal police director-general put the alleged financial-system crimes at approximately 12 billion reais, citing criminal organisation, fraudulent management of a financial institution, market manipulation and money laundering.
He was released by an appeals court on 29 November 2025 and re-arrested on 4 March 2026, with preventive detention ordered by Justice Mendonça.
On 25 June 2026 Mendonça maintained the detention and ordered his transfer to a military police battalion in the federal district, citing risk to the production of evidence and to asset concealment.
Plea-bargain talks formally ended on 10 June 2026.
The Wider Case Now Before the Court
On 1 September 2026 Mendonça lifted the seal on the case file, releasing police material recovered from Vorcaro’s phone.
Of a 218-page police report, 181 pages concern a contact saved under the name of Justice Alexandre de Moraes. Contracts disclosed include one with a law firm associated with the justice’s wife.
No replies from Moraes were recovered. The conversations used disappearing messages, and requests for comment went unanswered.
Nothing in the material links Moraes to the dossier on Maluhy. The two strands belong to the same investigation but are separate.
Thirteen retired Supreme Court justices wrote to Chief Justice Luis Roberto Fachin this week demanding an immediate and rigorous investigation into the affair.
What to Watch
The first marker is whether prosecutors bring any charge connected to the dossier. So far none has been reported.
The second is the response of the Supreme Court to the retired justices’ letter.
The third is Banco Master’s liquidation, which has been running since 18 November 2025 and leaves the bank without an ordinary spokesman.
The fourth is whether the prosecutor general files a formal complaint against Vorcaro, which would move him from investigated to defendant.
More: Brazil news in English, every day from The Rio Times.
Frequently Asked Questions
What is Vorcaro accused of in this instance?
Federal police allege he asked a publicist to compile a file with personal and asset information on Itaú Unibanco’s chief executive. No charge specific to the dossier has been reported.
Who is the target?
Milton Maluhy Filho, chief executive of Itaú Unibanco since 2021, and his wife Camila Moretti Maluhy. Itaú declined to comment.
Has anyone been convicted?
No. The material comes from a police report inside an ongoing investigation. Thiago Miranda’s defence categorically denies any illegality.
How does this relate to the Supreme Court crisis?
Both strands come from the same police investigation into Vorcaro. Nothing in the released material links Justice Alexandre de Moraes to the dossier.
Sources: Policia Federal via STF, Reuters, CNN Brasil, Metropoles, Poder360, Congresso em Foco.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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