The Brazilian Federal Police are probing allegations that certain individuals involved in the Master case received prior warnings regarding a police operation intended to investigate the allocation of funds from Amapá Previdência (Amprev) to Banco Master. A report submitted to the Federal Justice indicates that Jocildo Silva Lemos, the president of Amprev and head of the Investment Committee, may have had advance knowledge of the search and seizure operations that occurred last Friday. Investigators described Jocildo as the intellectual mentor and primary orchestrator of the committee’s financial dealings.

According to the investigation, documents have emerged suggesting that investments made by Amapá’s pension fund in Banco Master were executed without adhering to proper risk assessments, despite prior warnings. The total transfers involved are approximately R$ 400 million, making the stakes quite high in terms of public trust and financial integrity. This alarming situation raises questions about oversight and management practices within Amprev and the investment committee.

Jocildo asserts that he is a political ally, having been appointed to his position at Amprev by the president of the Senate, Davi Alcolumbre, who reportedly is not under investigation. This connection may complicate the inquiry, potentially highlighting issues related to political influence within public financial institutions. The implications of these investigations could lead to significant scrutiny of the connections between politics and pension fund management in Brazil, alongside a broader examination of accountability mechanisms in place to handle such large sums of public money.