Banco Master
Brazilfintech
Banco Master was a Brazilian financial institution that operated as a bank and provided investment fund administration services, specifically managing Fundos de Investimento em Direitos Creditórios (FIDCs). The company faced a major crisis and subsequent extrajudicial liquidation by the Central Bank of Brazil, involving approximately R$ 56 billion in assets and affecting 52 FIDCs. Its operations were closely tied to significant investments from public pension funds, such as the Rioprevidência, which invested R$ 970 million in Banco Master's securities. The institution was led by Daniel Vorcaro, who was identified as the founder and CEO, and its collapse was described as one of the largest financial crimes in Brazilian history.
Key people
- Daniel Vorcaro Founder and CEO