Feb 27 • 19:06 UTC 🇧🇷 Brazil Folha (PT)

Mendonça authorizes Vorcaro's trip to Brasília on Federal Police jet

Minister André Mendonça of the Supreme Federal Court has authorized banker Daniel Vorcaro to fly to Brasília on a Federal Police jet for a Senate hearing.

Minister André Mendonça of Brazil's Supreme Federal Court has granted permission for Daniel Vorcaro, owner of Banco Master, to travel to Brasília using a jet from the Federal Police. This trip is scheduled for March 10, when Vorcaro is set to testify before the Senate's Economic Affairs Committee (CAE) regarding ongoing investigations into his bank, which was liquidated last year, costing the Deposit Guarantee Fund around R$ 50 billion. The Senate's CAE has established a working group to monitor the investigations surrounding the Banco Master's operational failures, which led to significant financial fallout. Vorcaro's previous request to use a private aircraft for an inquiry into the national social security system (INSS) was denied by Mendonça, highlighting the minister's preference for public resources to be used in matters of state. This decision underscores the legal complexities surrounding the investigation and reflects a broader movement towards accountability in the financial sector. Vorcaro's testimony is expected to provide critical insights into the financial mismanagement and regulatory failures that led to the Banco Master's collapse. The choice of a Federal Police jet signifies the importance of this inquiry and the state's role in facilitating justice. As investigations continue, the implications of this case may reverberate throughout Brazil's banking sector and influence regulatory practices going forward.

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