Introduction to the Case
Banker Daniel Vorcaro, the former controller of Banco Master, was questioned by the Federal Police on December 30th as part of an investigation into alleged financial irregularities and reckless management at the institution. During the hearing, Vorcaro denied any wrongdoing and defended the legality of operations with BRB (Banco de Brasília). He also stated that he was a victim of persecution by competitors and sectors of the Central Bank.
Denial of Fraud and Loss to BRB
The main point of the interrogation was the issuance of Bank Credit Certificates (CCBs) backed by portfolios of the company “Tirreno”. Vorcaro maintained that, as the operation was not completed in accounting terms and the money was retained, there was no crime. He argued that for a crime or fraud to happen, someone has to have an advantage and someone else has to have a loss. In this case, BRB had no loss, no customer had a loss, and Banco Master had no advantage in this business.
Meetings with Ibaneis Rocha, Governor of DF
Vorcaro admitted to meeting with Ibaneis Rocha, the governor of the Federal District, but denied that the meetings involved requests for political facilitation for the sale of the bank to BRB. He stated that the governor had already been to his house and that they had spoken on several occasions. Vorcaro used his own arrest as an argument to refute the influence peddling thesis, saying that if he had so many political relationships, he wouldn’t have been denied the BRB operation and wouldn’t have been arrested.
Criticism of the ‘Internal War’ at the Central Bank
The executive claimed that the Central Bank (BC) monitored the Master’s operations “daily” and suggested that his arrest was the result of an internal dispute in the regulatory authority. He stated that there were people who wanted a market solution, and there were other people, departments, who wanted what happened to happen and ended up winning. According to him, the intervention and liquidation decreed in November prevented a positive outcome.
Risk of Flight and Travel to Dubai
Regarding the trip he would take to Dubai the day after the police operation, Vorcaro classified the suspected escape as unreasonable, stating that he had already notified the BC about the business trip. He said that the issue of escape is completely out of context and that he didn’t imagine there was a warrant for his arrest.
Final Order
At the end of his testimony, Vorcaro appealed to the investigators, asking that the case be looked at from a different perspective, away from media pressure. He wished that there was the benefit of the doubt in their minds and stated that there really isn’t anyone who was harmed and that there really isn’t a 12 billion fraud.
Conclusion
In conclusion, Daniel Vorcaro denied any wrongdoing and defended the legality of operations with BRB. He claimed to be a victim of persecution and internal disputes within the Central Bank. The investigation is ongoing, and it remains to be seen how the case will unfold. Vorcaro’s testimony provides insight into the complexities of the case and highlights the need for a thorough and unbiased investigation. Ultimately, the truth behind the alleged financial irregularities and reckless management at Banco Master will be revealed, and those responsible will be held accountable.
