Target of the PF in Operation Compliance Zero: remember the trajectory of Banco Pleno until liquidation by the BC

PF fulfills 18 warrants in new phase of Compliance Zero
The Federal Police (PF) launched, this Thursday (18), the 9th phase of Operation Compliance Zero, which investigates an alleged billion-dollar scheme of fraud, corruption, money laundering and obstruction of justice linked to Banco Master.
Among the targets are senator Jaques Wagner (PT-BA) and banker Augusto Ferreira Lima, owner of Banco Pleno, an institution that had extrajudicial liquidation decreed by the Central Bank in February this year.
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The institution belonged to the Banco Master group and had been sold, in the second half of last year, to Augusto Lima, former partner of Daniel Vorcaro, ending a trajectory marked by changes in control, attempts at repositioning and operational instability.
The bank emerged from Banco Indusval & Partners (BI&P), founded in 1967 and focused mainly on corporate credit and agribusiness financing.
Faced with operational difficulties and pressured results, the institution underwent several corporate reorganizations.
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In 2019, under the control of businessman Roberto de Rezende Barbosa, the institution adopted the name Banco Voiter, in a strategy of streamlining its structure and investing in digital solutions, but without being able to stabilize the business.
Faced with difficulties, the controllers began looking for potential buyers.
Sales attempts until reaching Master
In 2023, the bank negotiated a possible sale to Capital Consig, which provided for an investment of R$100 million and the transfer of control of the institution. The operation, however, did not progress, opening space for conversations with Banco Master.
At the beginning of the following year, the controllers of the then Voiter announced negotiations with Daniel Vorcaro, without disclosing the amounts involved. The agreement provided for the transfer of control and the incorporation of the wholesale, brokerage and management areas into the Master conglomerate.
Shortly later, in July 2025, the Central Bank authorized the transfer of control to Augusto Ferreira Lima, a former partner of Vorcaro, giving rise to Banco Pleno.
After the sale to Master, the Rezende Barbosa family entered into legal dispute against the conglomerate and its controllers, involving a R$400 million debenture issued by the group's controlling company.
According to the sellers, the first installment of R$100 million was not paid and, even after an amendment that provided for the disbursement of R$200 million in two installments, the amounts were also not paid.
The Master claimed that the creditors had demanded the contract be brought forward. The family went to court in São Paulo, with the value of the case estimated at R$470.5 million, but withdrew the process after an agreement was approved in early November, a few days before the BC's intervention in the group.
Liquidity problems
The approval of the operation was accompanied by demands, including the presentation of a plan to face possible liquidity problems.
Despite this, the bank maintained a strong dependence on funding through term deposits, especially Bank Deposit Certificates (CDBs), as the main source of financing.
Liquidity problems occur when the bank does not have cash to meet immediate commitments, such as withdrawals and redemptions, even though it has assets on paper. In other words, they have assets, but are unable to quickly convert them into cash, which leads to delays, loss of confidence and, in serious cases, intervention from the BC.
According to data from the BC, in September Banco Pleno had liabilities of around R$6.8 billion, of which approximately R$5.2 billion in CDBs and around R$760 million in financial bills.
With the increased perception of risk, these securities began to be traded on the secondary market with rates well above the CDI, which indicates forced sales and deterioration in investor confidence.
The presence of Banco Pleno in the financial system was reduced. Until September last year, the institution concentrated around 0.04% of the sector's assets, which exceeded R$ 18 trillion - the equivalent of approximately R$ 7.2 billion.
In funding, the share was around 0.05% of a total exceeding R$ 13 trillion, the equivalent of approximately R$ 6.5 billion.
According to the BC, the liquidation was adopted after the worsening of the institution's economic and financial situation, which began to have difficulty fulfilling his day-to-day obligations. The body also pointed out non-compliance with rules and determinations of the regulatory authority itself.
"The extrajudicial liquidation was motivated by the compromise of the economic-financial situation of the institution, with deterioration of the liquidity situation, as well as by violation of the rules that govern its activity and non-compliance with the determinations of the Central Bank of Brazil."
Find out more in the report below.
Central Bank decrees liquidation of Banco Pleno, controlled by Daniel's former partner Vorcaro
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Source: G1