Feb 8 • 16:00 UTC 🇧🇷 Brazil Folha (PT)

Former BRB Director Removed Over Master Case Returns to Banking Agency and Seeks Discretion

Dario Oswaldo Garcia Júnior has returned to a banking agency after being removed from his director role at BRB amid an investigation related to the liquidation of Banco Master.

Dario Oswaldo Garcia Júnior, previously the director of finance and control at BRB (Banco de Brasília), has resumed his position at a banking agency after being suspended in connection with the disastrous liquidation of Banco Master. His life took a dramatic turn on November 18 when law enforcement conducted searches, seizing assets and blocking his passport, leading to a 60-day suspension by court order, which also affected ex-president Paulo Henrique Costa.

On January 19, Dario returned to his previous role, marking a significant change after over three decades, showing a focus on discretion and professionalism in his work. Folha reporters located him at the newly renovated BRB branch in a prime location of Brazil's capital, known for exclusive appointments catering to high-income clients. Despite being under investigation, he has expressed confidence in the process, with his lawyer stating that he has cooperated fully with authorities and intends to answer all inquiries relevant to the case, which remains confidential.

The implications of this case are not just confined to Dario but extend to the broader reputation of BRB as it navigates the fallout from the Banco Master liquidation. The ongoing investigation may uncover deeper issues within the banking sector in Brazil and raises questions about accountability and governance in financial institutions. Dario's return could indicate both resilience in his career and a complex legal landscape ahead as he seeks to clear his name and navigate possible repercussions from the case.

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