LatinNews Daily - 19 November 2025

*Brazil’s federal police (PF) has arrested Daniel Vorcaro, the CEO of private bank Banco Master, as part of a probe into the issuance of allegedly fabricated credit instruments. According to the PF, the fraudulent instruments are estimated to total around R$12bn (US$2.25bn). The central bank (BCB) has also ordered for Banco Master to be dissolved due to its “serious liquidity crisis”, its inability to fulfil financial obligations, and due to “serious violations of the norms” of the national financial system. The private bank has reportedly been struggling due to regulatory changes in recent years that have hindered its strategy of selling high-yield debt through investment platforms. On 18 November a consortium of investors led by Brazilian holdings company Fictor announced plans to acquire the ailing bank, but yesterday Fictor reportedly suspended the plans after the BCB ordered for Banco Master to be liquidated.

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