Daniel Vorcaro, the owner of Banco Master, was arrested on Wednesday, October 4, by the Federal Police in São Paulo as part of an ongoing investigation into a massive financial fraud scheme. This arrest marks the third phase of the "Operation Compliance Zero," which aims to uncover possible crimes such as threats, corruption, money laundering, and the hacking of devices, allegedly committed by a criminal organization. Alongside Vorcaro, his brother-in-law, Fabiano Zettel, is also wanted in connection with the operation but has not yet been located.

The Federal Police claim that the fraudulent scheme involves the sale of false credit titles by Banco Master. The name of the operation refers to the lack of internal controls within the involved institutions, which has allowed the commission of fraudulent management crimes, money laundering, and market manipulation. Authorities had previously issued a preventive arrest warrant for Vorcaro, who has since been taken to the Federal Police headquarters in São Paulo for further processing.

This recent development highlights ongoing concerns in Brazil's financial sector regarding regulatory oversight and the effective control of financial institutions. The investigation is significant not only because of the alleged financial crimes but also due to its implications for public trust in banking institutions and the potential for reforms in the regulatory frameworks governing financial operations in Brazil.