Brazil Police Target Executive in Widening Banco Master Probe

Brazilian federal police have launched an operation targeting communications executive Thiago Miranda as part of a widening investigation into the collapse of Banco Master, according to a court ruling seen by Reuters. The probe centers on a communications campaign allegedly designed to defend the defunct lender and attack its critics.

The Investigation Widens

Supreme Court Justice Andre Mendonca authorized the operation, which included the seizure of electronic devices, documents, and cash from several addresses linked to Miranda. The executive, who owns a communications agency, had previously been treated as a witness in the probe after providing information on the bank's founder, Daniel Vorcaro.

However, investigators now consider Miranda a target. Messages exchanged between Miranda and Vorcaro led authorities to believe the executive was responsible for gathering information on some of Vorcaro's targets, the court ruling stated.

Allegations and Key Figures

Investigators are probing several serious allegations against Miranda, who was hired by Vorcaro to manage a communications strategy for Banco Master. The suspicions outlined in the court documents include:

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• Orchestrating attacks against Brazil's central bank.
• Preparing a dossier on Milton Maluhy Filho, the CEO of rival lender Itau Unibanco.
• Hiring social media influencers to defend Banco Master and criticize regulators.
• Attempting to intimidate journalists and conducting unlawful surveillance.

Reuters was unable to reach Miranda for comment, and Itau Unibanco declined to comment on the matter.

Context of the Banco Master Collapse

The operation is the latest development in a growing scandal surrounding Banco Master. The lender was liquidated by Brazil's central bank last year following a severe liquidity crisis. The bank's founder, Daniel Vorcaro, was arrested in March.

The case has exposed a complex network of influence and has reportedly damaged public trust in financial officials. The investigation continues to expand, pulling in new individuals connected to the bank's operations and its subsequent defense campaign.