Brazilian lawmakers linked to Master bank scandal face investigations

Deputy Filipe Barros (PL‑PR) used his chairmanship of the Chamber’s Foreign Affairs and National Defense Committee to advance measures that could benefit Banco Master and pressure regulators. He drafted a bill expanding the Credit Guarantee Fund’s coverage, mirroring a proposal tied to the bank, and called the heads of the CVM and the Central Bank to a tense hearing. The episode coincided with the resignation of CVM president João Pedro Nascimento, who cited threats after the meeting.

Senator Ciro Nogueira (PP‑PI), also under investigation in the Master case, was authorized to attend the United Nations High‑Level Political Forum on Sustainable Development in New York. Federal police allege he received a monthly allowance of R$300 000 and luxury expenses from Banco Master’s former owner Daniel Vorcaro, who also provided a credit card for personal use. Nogueira’s office denies any wrongdoing, but his upcoming UN delegation highlights the political scrutiny surrounding the scandal.