Brazil Senator Ciro Nogueira Faces Federal Police Probe Over Banco Master Deal

Senator Ciro Nogueira (PP‑PI), national president of the Progressistas party, has become the first congressperson formally targeted by the Federal Police in Operation Compliance Zero. Investigators allege he received illicit benefits from Banco Master owner Daniel Vorcaro, including a R$ 22 million triplex in São Paulo, monthly payments of R$ 300‑500 thousand, and the financing of luxury travel and expenses. Evidence from Vorcaro’s phone shows Nogueira submitted a constitutional amendment to raise the Fundo Garantidor de Crédito coverage from R$ 250 thousand to R$ 1 million per depositor—directly favoring Banco Master. The amendment failed to pass. After the probe intensified, Nogueira’s lawyers withdrew from his defense, citing a mutual agreement.

Despite the investigation, Valdemar Costa Neto, president of the Liberal Party (PL), said the party still wants Nogueira on the campaign roster of presidential candidate Flávio Bolsonaro, pending any conclusive proof of wrongdoing. The scandal threatens alliances within the centrist “Centrão” bloc ahead of upcoming elections and highlights potential corruption links between legislators and financial institutions.