Did Eduardo Bolsonaro order the rescue of Banco Master?

A legislative proposal aimed at bolstering the FGC's coverage to rescue Banco Master has drawn scrutiny, with allegations of a coordinated effort involving a Bolsonaro-aligned congressman and potentially Eduardo Bolsonaro himself.

Congressman Filipe Barros (PL-PR) introduced a bill (PL 4395/2024) that mirrors a proposal drafted by Banco Master, raising questions about the motivations behind his actions. This maneuver, if approved, could have significantly amplified the financial hole left by the bank's collapse.

Further complicating the matter, reports indicate that Eduardo Bolsonaro, during his absence in the United States, designated Barros to lead the National Congress's Foreign Relations and National Defense Committee (CREDN). Following this, the CREDN began to involve itself in financial sector regulation, an area outside its purview. Authorities from the CVM and Central Bank, who were investigating Banco Master at the time, were summoned to the committee and reportedly faced attacks from the "bolsonarista" bloc and influencers allegedly paid by the bank's owner, Daniel Vorcaro.

Investigations are ongoing, with the Federal Police suspecting that funds from Vorcaro may have supported Eduardo Bolsonaro in the United States. A contract also reportedly lists Eduardo Bolsonaro as an executive producer for a film, with decision-making power over its budget. The public awaits clarity on whether Banco Master's funds were used to support alleged coup conspiracies abroad.