Banker Daniel Vorcaro disclosed assets worth R$ 51.1 million, including artwork, watches, and Land Rover vehicles, in his 2024 tax return, indicating significant wealth unreported in previous declarations.
In a surprising revelation, Brazilian banker Daniel Vorcaro, the owner of Banco Master, declared R$ 51.1 million in assets for the year 2024, which include valuable works of art, luxury watches, and a collection of Land Rover cars. The details emerged from his income tax return filed with the mixed Parliamentary Inquiry Commission (CPI) investigating the National Institute of Social Security (INSS), as reported by Folha. Notably, this substantial asset declaration marks the first time Vorcaro included artwork and watches in his financial disclosures, suggesting a possible shift in his financial reporting practices.
The breakdown of the declared assets shows that approximately R$ 49.7 million of the total value is attributed to art and watches, although specific details regarding the amount allocated to each category were not provided. Additionally, Vorcaro owns four Land Rover vehicles, valued between R$ 195,000 and R$ 410,000 each. This level of wealth raises questions about his previous tax filings, as no indication of such valuable assets was present until his most recent declaration.
Furthermore, Vorcaro reported a total income of R$ 570 million for the year 2024, coupled with a tax refund of about R$ 28,000 from the Federal Revenue Service. This information was part of his 2025 declaration pertaining to the prior year. The inclusion of such high-value items in his declaration comes amidst ongoing investigations by the Federal Police (PF) concerning other financial elements linked to his banking operations, highlighting a potentially complex and scrutinized financial landscape for the banker.
