TCU Inspection of Master Bank Could Aid Vorcaro's Defense

TCU Minister Jonathan de Jesus has formalized an inspection of documents regarding the liquidation of Master Bank, owned by Daniel Vorcaro. The Minister indicated that the liquidation process will likely continue without suspension. However, the inspection of the Banco Central's procedures is viewed by financial experts as a potential source of legal leverage for Vorcaro.

The Banco Central has filed an appeal against the inspection, arguing that tribunal rules require such actions to be approved by a chamber rather than a single minister. Experts suggest that any identified procedural failures could assist Vorcaro in seeking indemnification and asset unfreezing. The Minister also noted the possibility of issuing precautionary measures to prevent the sale of bank assets.

TCU Minister Jonathan de Jesus has officially initiated an inspection of the documents concerning the liquidation of Master Bank. In his dispatch, the Minister signaled that he does not intend to suspend the liquidation of the institution owned by Daniel Vorcaro. He emphasized that the Banco Central possesses regulatory autonomy within the financial sector.

Despite this indication, the Minister determined that an inspection is necessary to analyze all procedures adopted by the Banco Central. The goal is to check for any failures or irregularities in the liquidation process. Financial market specialists and Banco Central technicians assess that this inspection could provide ammunition for Vorcaro to request indemnification and the unfreezing of his assets in court.

The Banco Central has decided to file an appeal to question the Minister's decision. The Central Bank argues that TCU rules stipulate that this type of measure must be approved by one of the tribunal's Chambers in a collegial decision. Consequently, until the appeal is analyzed, tribunal technicians will not be able to access the liquidation documents held at the Banco Central.

Experts note the practical reality that Master Bank has no condition to resume operations. One specialist, previously a director at the Banco Central, stated that if flaws or vices are found in the process, the TCU will arm the defense to be used in Daniel Vorcaro's defense at the STF (Supreme Federal Court).

Minister Jonathan de Jesus warned that he could prevent the Banco Central from selling assets of the liquidated bank. He stated that due to the risk of potentially irreversible acts, a precautionary measure directed at the Central Bank is not ruled out. Such a measure would be aimed at preserving the value of the liquidation estate and the utility of external control.

The Minister specified that any such intervention would be based on objective elements and proportional to the risk. The potential legal action would be of an assecuratory nature, strictly finalistic, and proportional. This underscores the tension between the regulatory autonomy of the Banco Central and the oversight capabilities of the TCU regarding the Master Bank liquidation.