Brazil Federal Police probe banking scandals linking Senator Jaques Wagner and BRB

Federal Police investigators accessed the phone of banker Daniel Vorcaro and uncovered messages showing a meeting with Senator Jaques Wagner, the provision of a private aircraft, and attempts to secure the senator’s support for an amendment that would raise the limit of the Credit Guarantee Fund (FGC) and benefit Banco Master. Wagner, who was the subject of a search and seizure operation, denied any relationship, stating “Não existiu intermediação e não existe relação.” The dialogue also reveals that Vorcaro coordinated the discreet use of the plane for Wagner’s travel.

In a separate case, the public prosecutor launched Operation Juros Zero to examine an alleged scheme in which more than R$ 80 million in loans were disguised as “fees” involving the Bank of Brasília (BRB), its service arm, the DF public‑servant pension fund, and the fintech PicPay. BRB responded to the securities regulator that the investigations are ongoing, but it has not been formally charged and, “não tem impactos materiais sobre sua situação econômico‑financeira.” The bank asserted that its governance and internal controls remain intact.