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Weekly Report - 08 January 2026 (WR-26-01)
BRAZIL: Institutions clash over controversial bank
The federal audit court (TCU) announced on 5 January that it would launch a probe into the decision by the central bank (BCB) in November last year to liquidate private bank Banco Master, the owner of which, Daniel Vorcaro, is under investigation for alleged fraud during his previous attempts to sell his struggling bank. The collapse of Banco Master also has political implications. The fraud investigations are overseen by the supreme court (STF), and Vorcaro’s networks are believed to include prominent politicians, including government officials and members of congress.
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