Brazil Supreme Court Unseals Banco Master Fraud Files Ahead of Presidential Election
Last update: September 11, 2026
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A failed bank, 41 billion reais missing, and a Supreme Court at war with itself. Now Brazil has decided to publish everything.
Brazil's Chief Justice Edson Fachin has ordered thousands of pages from the Banco Master probe to be unsealed, a move Justice Andre Mendonca complied with immediately, as reported by cbinews.tv.
The case centres on failed lender Banco Master and its former boss Daniel Vorcaro. Once a tiny bank founded as Banco Maxima in 1970 and rebranded in 2018, it was liquidated in November 2025. Police allege fraud involving 12 billion reais in fake securities, leaving the Credit Guarantee Fund facing a record 41 billion reais loss.
Vorcaro's phone revealed contacts across Brasilia, from central bank officials to congress leaders and Supreme Court justices.
Earlier this month Mendonca published messages allegedly between Vorcaro and Justice Alexandre de Moraes, the judge who convicted former President Jair Bolsonaro over the 2023 coup plot. Moraes accused Mendonca of abusing his authority. Fachin has called a full court session for 15 September to tackle the crisis.
The timing is explosive. The country faces a tight presidential race between President Luiz Inacio Lula da Silva and Senator Flavio Bolsonaro.
Hours before the ruling, Lula told SBT: "I am in favour of opening everything. Investigate everything, disclose everything, regardless of who it hurts."
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