The Bahamian Court recognized the liquidation of Banco Master, a financial institution investigated by the Federal Police on suspicion of financial fraud and misappropriation of resources. The measure authorizes the liquidator appointed by the Central Bank to act on behalf of the bank and other group companies in the Caribbean country.
This decision directly helps in the process of recovering the institution’s financial assets abroad, with emphasis on the tax haven of the Bahamas, where the conglomerate maintains several companies and funds. International cooperation gains strength with the official appointment of EFB Regimes Especiais as representative.
In the document dated May 26, the Supreme Court magistrate responsible for the decision, Raynard Rigby, assesses it as unlikely that Banco Master will be able to reverse the liquidation determined in Brazil. The ruling reinforces the path for deeper investigations into the remaining resources.
In total, the Central Bank and the Federal Police are acting against nine companies and funds linked to the scheme that operate in the tax haven. The Brazilian government has already formally started the process of recovering resources abroad, with a focus on blocking suspicious transfers and obtaining information about the group’s assets.