Federal Police points out irregularities in transfer of R$7.15 billion involving Banco Master and BRB

The Federal Police (PF) identified strong signs of irregularities in the transfer of R$7.15 billion in credits from the company Tirreno Consultoria Promotoria de Créditos e Participações to Banco Master in 2024 and 2025.

In the report, the PF states that Tirreno did not have a compatible capacity for originating credits (generating or granting loans) and identified signs of artificiality (incompatible standards, such as atypical repetition of values and contracts) in the records analyzed.

The information is contained in a report, the confidentiality of which was removed on Thursday night (10) by Minister André Mendonça, responsible for the main investigations related to Banco Master that are being processed at the Federal Supreme Court (STF).

Subsequently, these credit rights, according to the PF, would have been transferred to the Banco Regional de Brasília (BRB), which is at the center of investigations into the Master scandal and the origin of the portfolio acquired by the public bank.

According to BRB's current management, the crisis revealed a R$8.8 billion hole in the institution, associated with non-existent, fraudulent or difficult-to-recover securities.

Signs of fraud

According to the PF report, the company, which was originally called SX 016 Empreendimentos e Participações and later had its name changed to Tirreno, was created in November 2024, one month before the first transfer of credits to Master, worth around R$280 million.

When forming the credits sold, the PF identified "recurrent and unusual patterns of distribution of values, replication of contracts and concentration of attributes, which are strong signs of artificiality."

In addition to the signs of irregularities in the formation of the portfolio, the Federal Police found no evidence that the amounts for the credit assignments had actually been paid by Master to the company.

"The examinations carried out did not identify evidence of effective financial settlement of the assignments through the availability of resources in Tirreno's free movement current account. The only current account owned by the company identified in the Customer Registry of the National Financial System (CCS), was only opened on 05/23/2025 (after all the assignments examined had been carried out) and without financial movement", says the PF report.