Brazil probe: Central Bank official pushed Voiter sale to Master "in record time
What's the deal? A federal police report made public on Friday, November 11, alleges that Paulo Sérgio Neves de Souza, then deputy head of the Central Bank's banking supervision department (Desup), acted to speed Banco MasterDealroom has a profile for this one. Try Dealroom →'s 2024 acquisition of Banco VoiterDealroom has a profile for this one. Try Dealroom →. Investigators say his involvement helped close the deal "in record time." The report does not detail exactly what he did.
The evidence: On April 5, 2024, two months after the deal was announced, Paulo Sérgio forwarded Daniel Vorcaro a thank-you message from a person identified only as "Leandra." It read: "Thank you so much for your effort, dedication in making this 'deal' happen in record time. Roberto deserved to rest from all this. Gratitude for everything!" (translated from Portuguese).
The backdrop: The transaction was negotiated with Roberto Rezende de Barbosa, then Voiter's controller, and announced in February 2024. The confidentiality of the police documents was lifted by Supreme Court justice André Mendonça, following a decision by the court's president, Edson Fachin.
The wider pattern: Police say Paulo Sérgio also sought buyers for LetsbankDealroom has a profile for this one. Try Dealroom →, controlled by Vorcaro. In October 2024, he told the banker that Nubank was interested, asked about pricing, and offered to pass details to potential buyers. Investigators cast him as "a sort of interlocutor for Vorcaro's interests."
Nubank's response: The bank said it "regularly receives proposals from various institutions" and applies "strict compliance, governance, and risk-management criteria." It confirmed Letsbank was presented as a possible acquisition and that it "declined the proposal" (translated from Portuguese). The deal did not advance.
What else? The report cites Will Bank, where police say Vorcaro received a rejection on its acquisition by Master/ReagDealroom has a profile for this one. Try Dealroom →, and that Paulo Sérgio worked so officials might "review the position." Investigators say his favourable actions surfaced after his appointment as Desup deputy head in October 2023, when he allegedly gave Vorcaro's interests "absolute priority."
What happened next? In July 2025, Vorcaro sold control of Voiter to former partner Augusto Ferreira Lima, who renamed it Banco PlenoDealroom has a profile for this one. Try Dealroom →. The bank was later liquidated by the Central Bank. Will Bank was also liquidated this year.
The signal: The disclosures put a spotlight on ties between Brazil's banking supervisor and the fast-expanding Master group, whose deals and subsequent liquidations are now central to a federal investigation. How regulators respond may shape scrutiny of oversight at the Central Bank itself.
Image credit: Generated with Gemini
