Brazil's Central Bank ordered the shutdown of Banco Master due to a major liquidity crunch and "serious violations" of financial regulations. Police said they they were investigating "crimes of criminal organization, financial fraud, market manipulation, and money laundering." Banco Master majority shareholder Daniel Vorcaro has been in pre-trial detention since November, when he was arrested as he prepared to board an international flight. At the time, federal police chief Andrei Rodrigues told lawmakers that fraud at the bank could amount to around 12 billion reais ($2.2 billion). The bank was insured by the Brazilian Deposit Guarantee Fund (FGC) which estimates it will have to pay out 41 billion reais ($7.6 billion) to 1.6 million investors.

Source: Bangladesh Sangbad Sangstha January 15, 2026 03:04 UTC