Brazil Supreme Court's Toffoli denies taking payments, ties to Banco Master's Vorcaro

Brazilian Supreme Court Justice Dias Toffoli denied any payments or personal ties to Banco Master shareholder Daniel Vorcaro, emphasizing he has no friendship or financial connection while continuing to supervise the ongoing investigation into the bank's liquidation and regulatory issues.

Brazilian Supreme Court Justice Dias Toffoli publicly refuted on Thursday any involvement in receiving payments or maintaining personal connections with Daniel Vorcaro, the main shareholder of Banco Master.

Background on Allegations

The clarification comes after the head of Brazil's Federal Police submitted a report to Supreme Court President Edson Fachin. The document mentioned Justice Toffoli in connection with information extracted from Vorcaro's mobile device, obtained during a court-approved search. A source with knowledge of the report confirmed the details.

Justice Toffoli is responsible for supervising the ongoing investigation into Banco Master, a role that has drawn attention both inside the Supreme Court and in public discussions about the case.

Banco Master Financial Context

Banco Master, which represented less than 1% of Brazil's total banking assets, was officially liquidated in November. The Central Bank cited critical liquidity shortages, severe financial deterioration, and significant regulatory violations as reasons for the institution's closure.

Federal Police Report Details

The 180-page Federal Police report includes alleged mentions of payments to a company linked to Justice Toffoli. It also refers to invitations to social events involving the justice. The complete report has been forwarded to the Prosecutor General’s Office for evaluation, which will decide whether further measures are required.

The police report did not request Justice Toffoli’s recusal but highlighted elements that need additional review in relation to the ongoing investigation.

Justice Toffoli’s Official Statement

In his statement, Toffoli stressed that he never received money from Daniel Vorcaro or Vorcaro's brother-in-law, Fabiano Zettel. He clarified that there was no friendship or personal connection with Vorcaro, stating that he has never had any friendly or close relationship with him. He also reaffirmed that no funds were ever received from either Vorcaro or Zettel.

This statement indicates that Justice Toffoli does not see a reason to withdraw from overseeing the Banco Master investigation despite the references included in the Federal Police report.

Next Steps in the Investigation

The Prosecutor General’s Office will analyze the police report and determine whether any legal or procedural measures are required. Meanwhile, the liquidation process of Banco Master continues under the supervision of Brazilian financial authorities, ensuring that regulatory compliance and financial stability remain the focus of ongoing actions.

Sources:

• Yahoo News: Brazil Supreme Court's Toffoli denies receiving payments, links to Banco Master's Vorcaro
• Investing.com: Brazil Supreme Court’s Toffoli denies receiving payments, links to Banco Master’s Vorcaro
• MarketScreener: Brazil Supreme Court's Toffoli denies receiving payments, links to Banco Master's Vorcaro
• Brazil Supreme Court's Toffoli denies receiving payments, links to Banco Master's Vorcaro