04/ 47Corruption
Flávio asked for millions from the banker behind losses 140 times greater than the mensalão
Flávio Bolsonaro asked Daniel Vorcaro, owner of Banco Master, for US$ 24 million to fund a film about his father; at least US$ 10.6 million was paid[1]. The bank collapsed with the largest financial shortfall in the country’s history, R$ 47.3 billion[2]. Now a candidate, Flávio is under investigation in the inquiry into the film[3].
- Banco MasterR$ 48.8 bn 140×
Loss from the collapse of Master and Will Bank, according to Banco Central · liquidation in November 2025 [2]
- PetrolãoR$ 11.7 bn 34×
Improper payments written off in Petrobras’s financial statements: an audited minimum; the PF estimated more · 2014 financial statements [4][5]
- MensalãoR$ 348 m
Amount embezzled, according to the PF, MPF and TCU, in Criminal Case 470 · 2003–2004 [6]
Amounts adjusted by the IPCA up to August 2026 (Banco Central, series 433). The cases differ in nature: the scale compares losses.
View the figures in a table
| Case | Value | What the value measures | Period |
|---|---|---|---|
| Banco Master | R$ 48.8 bn | Loss from the collapse of Master and Will Bank, according to Banco Central | liquidation in November 2025 |
| Petrolão | R$ 11.7 bn | Improper payments written off in Petrobras’s financial statements: an audited minimum; the PF estimated more | 2014 financial statements |
| Mensalão | R$ 348 m | Amount embezzled, according to the PF, MPF and TCU, in Criminal Case 470 | 2003–2004 |
The request
Flávio was the one who asked
Flávio asked Daniel Vorcaro, owner of Banco Master, for US$ 24 million (around R$ 134 million) for the film "Dark Horse", about his father. At least US$ 10.6 million was paid, in six transfers between February and May 2025[1].
STF Justice André Mendonça named Flávio as a subject of the PF inquiry into the film’s funding, which mentions money laundering, illegal currency transfers abroad and corruption[3]. No criminal charges have been filed. Flávio says: "Zero public money."[1]
The scale
More than 140 mensalões
In today’s money, the collapse of Master and Will Bank costs R$ 48.8 billion[2]. That is more than 140 times the amount embezzled in the mensalão[6] and around 4 times what Petrobras recorded as corruption losses[4].
The bill falls mainly on the FGC, funded by banks, but also on 18 public employee pension schemes, with R$ 1.87 billion invested[7], and on BRB, a public bank: R$ 17 billion in fictitious transactions, according to the PF[8]. Private fraud is not embezzlement of public funds; the scale compares losses.
The legacy
The budget voters could not see
Under Flávio’s father’s government, R$ 28.1 billion in budget rapporteur amendments was paid from 2020 to August 2022 without it being known who directed the funds[9]. It was the secret budget. The STF declared it unconstitutional in December 2022[10].
Within it was the tratoraço: R$ 3 billion negotiated by the government in late 2020 and tractors bought at up to 259% above reference prices[11]. The TCU suspended eight Codevasf tenders over suspected overpricing of R$ 11.1 million[12]. The case is not Flávio’s; the political group is.
The party
Who leads the PL
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References13 sources
- 01CNN Brasil · Flávio pediu R$ 134 mi a Vorcaro para filme de Bolsonaro, diz InterceptThe US$ 24 million request, the US$ 10.6 million paid and Flávio’s response.(opens in a new tab)
- 02Poder360 · Quebra do Master custa R$ 47,3 bi, maior rombo da históriaThe cost of the collapse of Master and Will Bank, using Banco Central data adjusted by the IPCA.(opens in a new tab)
- 03Agência Brasil · Mendonça incluiu Flávio Bolsonaro como investigado no caso Dark HorseFlávio’s inclusion as a subject of the investigation and the offences being investigated.(opens in a new tab)
- 04Agência Brasil · Petrobras perde R$ 6,2 bi com corrupção e prejuízo soma R$ 21,6 bi em 2014The R$ 6.2 billion Petrobras wrote off in its 2014 financial statements as improper payments.(opens in a new tab)
- 05InfoMoney · Prejuízo da Petrobras com corrupção foi de pelo menos R$ 19 bilhões, diz PFThe PF estimate, higher than the amount recognized in the financial statements.(opens in a new tab)
- 06Congresso em Foco · Jornais: mensalão desviou pelo menos R$ 101 milhões do governoThe R$ 101.6 million embezzled, as established by the PF, MPF and TCU.(opens in a new tab)
- 07Poder360 · Master deixa rombo de R$ 52 bi no FGC e prejuízo de R$ 2 bi em fundosThe financial shortfall at the FGC and the R$ 1.87 billion from 18 public employee pension schemes.(opens in a new tab)
- 08InfoMoney · PF aponta fraude de R$ 17 bilhões em operações entre Master e BRBThe fictitious transactions between Master and the Federal District’s public bank.(opens in a new tab)
- 09CNN Brasil · Em quase 3 anos, 'orçamento secreto' pago supera emendas individuais e é mais que o dobro das de bancadaThe R$ 28.1 billion paid in budget rapporteur amendments from 2020 to August 2022.(opens in a new tab)
- 10InfoMoney · STF declara "orçamento secreto" inconstitucional, por 6 votos a 5The STF ruling declaring budget rapporteur amendments unconstitutional.(opens in a new tab)
- 11Estadão, via Terra · Orçamento secreto bilionário de Bolsonaro banca trator superfaturado em troca de apoio no CongressoThe R$ 3 billion in budget amendments and the tractors bought at up to 259% above reference prices.(opens in a new tab)
- 12O Povo · TCU manda suspender licitações de compra de 'tratoraço' após identificar sobrepreçoThe suspected R$ 11.1 million in overpricing across eight Codevasf tenders.(opens in a new tab)
- 13Congresso em Foco · STF concede perdão a todo o núcleo político do mensalãoThe pardon that relieved Valdemar Costa Neto of the rest of his mensalão sentence.(opens in a new tab)