Mar 16, 2026
3 min read
Paulo Sergio Souza and Belen Santana, who were isolated by British Columbia and targeted by PF on suspicion of receiving bribes from bankers, did not meet server protection.Fucaro's defense says it does not comment on the content of classified materials.
BRASILIA - Daniel Vorcaro's cellphone conversations with two central bank officials show they anticipated questions that would be asked at municipal meetings, revealed details of Banco Master's monitoring of financial transactions and gave their opinions on documents to be presented to the BC.
Estadão had access to unpublished details of the conversations released by the federal police.Paulo Sergio Souza and Belin Santana were the targets of search and seizure by the PF in the third phase of Operation Zero Compliance which began last week.In January, they were already removed from their positions by the Central Security Service, which launched an official investigation to examine Master's case.
Server security could not be reached for comment and did not return calls.Security Vorcaro said it was "not appropriate to talk about the content of illegal privacy crimes".
"These are the facts that are already under criminal investigation by Minister Andre Mendonza at the Supreme Court of the Government. Any statement about the information obtained in this way only strengthens the dissemination of information, its disclosure itself as a subject of investigation. In addition, the communication between the client and the lawyer is protected by legal rights and constitutes an important guarantee of protection."
In one of the interviews, the former director of the inspection of BC Paolo Sergio Souza Vorcaro indicated the topics that will be discussed at the meeting of the city council.This message on February 5, 2024, he has already left the position of director and will become the deputy head of the bank inspection department, reporting to that board.
"They should ask about your relationship with Reg. He said he has business with the Piana family and is trying to get some money back in the normal liquidation process. But they want to know about your relationship with Mansoor. That's it, hugs and good luck."
PF analyzes the conversation: "In February 2024, before the meeting with Director of Inspection Aylton Aquino, Paulo Sergio advises Daniel Vorcaro again. He warns him in advance that he should be questioned about his relationship with Reag and Mansoor."
The RIAA is investigating Operations Compliance Zero and Hidden Carbon for money laundering schemes and ties to organized crime.Authorities are investigating the use of a complex series of investment funds managed by the company to cover up financial fraud at Banco Master.Reg's founder Joao Carlos Mansour was targeted in the second phase of Operation Compliance Zero.
The document shows that Magister received an ultimatum from BC de Campos Neto a year earlier
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In another conversation, Paulo Sérgio Souza sent Vorcaro the secrets of the warning made by SM on the Master's finances.For PF, this was expected with the aim of allowing the banker to build security on it.
In a letter sent to Vorcaro on February 17, 2025, Paulo Sergio wrote: "Sir, Reag Growth 95 had a reserve of 488.8 mm (millions) and Master Holding Financiera had a flow of 545.5 mm (millions).
At the beginning of this month, Master already received a yellow card from the Central Bank, with which he committed to adopt a series of measures by May to improve the balance sheet and corporate governance.Messages uncovered by the PF show that Vorcaro continued to receive insider help from two co-opted Central Bank employees.
Paulo will also be responsible for writing the minutes of the meeting between Vorcaro and the Central Bank on November 7, which the bank used to save him from the initial arrest.The former manager of the matai used this document as evidence in court, that he does not want to flee the country, because he will report this trip to the Central Bank.
Director Elton de Aquino considered the official's decision to write unusual meeting minutes, and from that point on, he began to distrust his subordinates, according to Estadao.
Another suspected employee in British Columbia is Belén Santana, who was the head of the banking division.
In one of the conversations, Vocaro sent a Master document to be presented to the RC in October 2025, when the authority was close to ordering the liquidation of Banco Master - announced the following month.
Belain replied via WhatsApp message on October 2, 2025: "As for the document, I think it came out well. I only have one doubt about the need to adapt the words, especially the diffs. I think keeping it more open than city hall etc. It helps to avoid unnecessary noise."
PF suspects employees took bribes through fake consulting contracts and real estate, even on trips to Disney.The cost of the transferred fee is still under investigation.
Paulo Sergio sold a farm in the state of Minas Gerais for BRL 3 million to a fund linked to Fabiano Zettel, brother-in-law of banker Daniel Vorcaro, Estadão reported.The deal, originally scheduled for 2021 when he took on the role of director of inspections, coincided with strong growth at Master.
Questioned internally by BC, Sarver admitted the deal and claimed he had no idea the funds were linked to Vorcaro.He claimed that since the price of coffee increased after the sale, he could lease the land to continue using the land.
Both employees are on leave, but still receiving salaries. According to the Transparency portal, Belline has a gross salary of R$ 45,947.05 and an additional R$ 1,175.00 in compensation. Paulo Sérgio has a gross salary of R$ 38,929.20 and an additional R$ 1,175.00 in compensation. Both are listed as active employees of the Central Bank.
The Controller General of the Union (CGU) received the complete process from the central bank this week.Now the body will begin its own analysis, which could lead to his expulsion from the public service.
