The Weekly Dirt: Brazil’s banking scandal reaches Miami
The CEO allegedly at the center of Brazil’s latest banking scandal quietly amassed a portfolio of luxury homes in Miami — reinforcing the familiar truth that there’s always a Florida connection to a major news story. Daniel Vorcaro led and was the largest shareholder of Banco Master, which Brazil’s central bank shut down earlier this month. Brazilian authorities allege the Rio de Janeiro-based bank created fake credit operations that were then sold to Banco de Brasília SA, as part of a multibillion-dollar fraud. Officials arrested Vorcaro on Nov. 18 as part of their investigation into the bank. Vorcaro, who is […]This article originally appeared on The Real Deal. Click here to read the full story.
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