In a testimony before a Senate Parliamentary Inquiry (CPI) addressing organized crime, Vladimir Timerman, the fund manager at Esh Capital, accused former banker Daniel Vorcaro of being a 'messenger boy' for the true owners of Banco Master. According to Timerman, Nelson Tanure is at the top of this hierarchy, suggesting that Vorcaro was used as a figurehead, lacking knowledge about the true operations and ownership structure of the institution. Timerman's statements provide insights into the allegations surrounding ownership and management within the bank, emphasizing the significance of Tanure's role and influence.

During his testimony, Timerman also criticized regulatory bodies, including the Brazilian Securities Commission (CVM), the Federal Police, and the Central Bank, for their slow responses in investigating these alleged frauds. He pointed out that his warnings regarding Gafisa S.A., a company with which Tanure is associated, date back to 2019 but had not led to any substantial action until 2021. This highlights concerns over regulatory effectiveness and accountability in the financial sector, particularly in relation to organized crime and corruption.

The implications of Timerman's allegations are far-reaching, putting pressure on designations of corporate governance and the responsibility of financial regulatory agencies in Brazil. Given the prominence of the individuals involved, including Tanure, the ongoing investigations may affect public confidence in the financial system and the institutions tasked with overseeing it. This inquiry could potentially lead to broader scrutiny of corporate practices and the intersection between business and crime within the Brazilian financial industry.