Finance

CEO Arrest and Bank Failure Shake Brazil’s Finance Industry

Employees of the Central Bank of Brazil leave the headquarters of Banco Master in Sao Paulo, Brazil, on Nov. 18.Photographer: Victor Moriyama/Bloomberg

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By Martha Beck, Matheus Piovesana, and Daniel Carvalho

November 18, 2025 at 6:09 PM UTC

Updated on

November 19, 2025 at 12:26 AM UTC

Leia em português.

On Monday, Daniel Vorcaro announced a last-ditch rescue deal that appeared to save his floundering Brazilian bank. Hours later, he was arrested at a Sao Paulo airport, where authorities say he was trying to flee the country.