Gabriel Galípolo, the head of Brazil's Central Bank, expressed his gratitude for managing the Master case under the presidency of Luiz Inácio Lula da Silva. In his remarks at an event by the Brazilian Banking Association (ABBC), he highlighted the importance of autonomy for both the Central Bank and the Federal Police amid the challenges posed by this case. His acknowledgment follows a previous statement by Lula, where he condemned the massive fraud involving over R$ 40 billion perpetrated by individuals associated with the Master Bank.

During his speech, Galípolo noted the crucial support provided by Finance Minister Fernando Haddad and the investigative efforts led by Paulo Gonet, Brazil's Attorney General, along with the Federal Police. He underscored the significant decisions made in liquidating the Master Bank, which faced a dire financial situation with only R$ 4 million in cash remaining at the time, and ongoing regulatory actions since early 2025.

This situation underscores the broader implications of financial oversight in Brazil, especially in light of previous fraudulent activities that have impacted public trust. Galípolo's comments reflect a commitment to responsible financial governance within the country, as he seeks to reassure the public and stakeholders about the effectiveness of regulatory mechanisms being put in place to prevent future crises and ensure accountability in the banking sector.