On Thursday, the BRB bank announced that it successfully blocked and arrested shares owned by individuals involved in the Master case, following a provisional ruling from the Civil Court of Brasília. This judicial decision stems from significant irregularities surrounding a fraudulent scheme where R$ 12 billion in fake credits were allegedly sold to BRB. The announcement was made public through a relevant fact disclosed by the bank.

The individuals targeted by this measure were part of Operation Compliance Zero, a federal police initiative investigating the illicit activities related to the Master case. The internal investigation by BRB highlighted that Daniel Vorcaro, owner of Master, along with his partners and João Carlos Mansur of Reag Investimentos, engaged in covert purchases of BRB shares prior to the bank's offering to acquire Master. The suspicions raised by investigators point to a potential strategy to expand BRB's asset base through a shares offering, which raises significant concerns about financial integrity and governance.

This judicial action reflects ongoing efforts to combat corruption and financial fraud within Brazilian banking institutions. The implications of the case are profound, potentially affecting investor confidence and the operational credibility of BRB. Moreover, as investigations proceed, further revelations about financial misconduct could emerge, reinforcing the need for strict regulatory oversight in the banking sector to safeguard against similar fraudulent schemes in the future.