Vorcaro Discussed Replacing Rioprevidência LFs Before Banco Master Liquidation

Federal Police messages show Daniel Vorcaro and ex-Banco Master legal director Luiz Rennó discussed swapping the bank's financial letters held by Rioprevidência for Rio state credit rights or a fund structure in October 2025, weeks before the bank's liquidation. The talks suggest potential impropriety in managing pension fund assets, though the outcome and legality remain unclear. This matters as it may indicate pre-liquidation efforts to shield or repurpose assets, with implications for 230,000 state servants.