Senator Flavio Bolsonaro confirmed he met banker Daniel Vorcaro after Vorcaro was arrested last year and released wearing an ankle monitor. Bolsonaro says the meeting — which he says took place in late 2025 — was meant to end negotiations after allegations about Vorcaro surfaced. Vorcaro, linked to the collapsed Banco Master, faces bribery accusations and the bank was liquidated amid fraud probes. The revelations have unsettled markets and coincide with a poll showing President Lula leading Bolsonaro by seven points.
Bolsonaro Confirms Meeting With Arrested Banker as Film-Funding Ties Shake Markets
Flavio Bolsonaro speaks with members of the press after a meeting, following a scandal over messages tied to his request for funding for a biopic about former Brazilian President Jair Bolsonaro, from disgraced banker Daniel Vorcaro, who was arrested in March on suspicion of leading a multibillion-dollar fraud scheme, in Brasilia, Brazil, May 19, 2026. REUTERS/Mateus Bonomi
BRASILIA, May 19 — Senator Flavio Bolsonaro acknowledged on Tuesday that he met in person with banker Daniel Vorcaro after Vorcaro, the owner of failed lender Banco Master, was arrested last year and released wearing an ankle monitor.
The meeting came into focus after news site The Intercept Brasil reported links between Bolsonaro and Vorcaro. Vorcaro was jailed for a second time in March on allegations that he paid bribes to a former central bank director. Banco Master was liquidated in November amid investigations into fraudulent loan portfolios.
The right-wing senator, who is seeking the presidency, says his relationship with Vorcaro was limited to an agreement for the banker to help finance a film about his father, former President Jair Bolsonaro. He has described the transaction as an investment with no expectation of political favors.
Flavio Bolsonaro speaks with members of the press after a meeting, following a scandal over messages tied to his request for funding for a biopic about former Brazilian President Jair Bolsonaro, from disgraced banker Daniel Vorcaro, who was arrested in March on suspicion of leading a multibillion-dollar fraud scheme, in Brasilia, Brazil, May 19, 2026. REUTERS/Mateus Bonomi
At a press conference on Tuesday, Bolsonaro said the meeting — which he said took place in late 2025 — was intended to end negotiations after reports of Vorcaro's alleged misconduct became public.
"I did go to meet him to put an end to the matter and to say that if he had told me the situation was as serious as it was, I would have looked for another investor much earlier," Flavio Bolsonaro told reporters.
Financial markets reacted sharply after the revelations, with traders warning the disclosure could affect a close presidential contest. In the first major poll released since the Vorcaro link was reported, President Luiz Inacio Lula da Silva opened a seven-point lead over Bolsonaro; previous polls had shown the two nearly tied.
Analysts say the political fallout, combined with ongoing legal probes into Banco Master and Vorcaro, could complicate Bolsonaro's bid and keep markets sensitive to new developments.
(Reporting by Ricardo Brito; Writing by Fernando Cardoso; Editing by Brad Haynes and Alistair Bell)
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