Brazil Supreme Court Keeps Henrique Vorcaro Jailed as Banco Master Probe Targets Multibillion-Dollar Fraud
Updated
Updated · Bloomberg · Jun 16
Brazil Supreme Court Keeps Henrique Vorcaro Jailed as Banco Master Probe Targets Multibillion-Dollar Fraud
1 articles · Updated · Bloomberg · Jun 16
Summary
Brazil’s Supreme Court voted to keep Henrique Vorcaro in jail after the latest plea-deal proposal in the Banco Master fraud investigation collapsed.
Henrique Vorcaro, father of former banker Daniel Vorcaro, was arrested last month in the police probe into the lender, which was liquidated late last year.
Authorities say Banco Master’s failure involved fraudulent mismanagement and bribe payments, and they accuse Daniel Vorcaro of orchestrating a multibillion-dollar scheme.
The case has widened beyond the bank itself, shaking Brazil’s political establishment as investigators pursue one of the country’s biggest recent financial scandals.