Brazil's highest court has decided to maintain the imprisonment of Daniel Vorcaro, who owned the now-defunct Banco Master. Vorcaro faces allegations of attempting to bribe a former central bank official with gifts to secure favorable treatment for his financial institution.
A majority of justices on Brazil’s Supreme Court ruled Friday to continue holding Daniel Vorcaro, the former owner of the shuttered financial institution Banco Master, behind bars.
Vorcaro was arrested earlier this month following a judicial determination that there was “strong indication” he tried to influence a former central bank official through bribery, offering gifts in exchange for favorable regulatory treatment.
The high court panel’s decision maintains Vorcaro’s detention as the case proceeds through Brazil’s legal system.
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