Brazil’s Central Bank on Tuesday ordered the extrajudicial liquidation of Banco Master, shutting down the institution and terminating its operations indefinitely.
The order, signed by Central Bank president Gabriel Galípolo, also calls for the judicial liquidation of Master SA Corretora de Câmbio.
The regulator appointed EFB Regimes Especiais de Empresas as the liquidator, granting it broad authority to dismantle the financial group’s activities.
The announcement came shortly after Federal Police arrested Banco Master owner Daniel Vorcaro in São Paulo.
His detention followed intensifying regulatory scrutiny and marked a dramatic turn for the lender, which had been on the verge of collapse for months.
Failed sale and aborted…