Bank of Brasilia (BRB), the state-controlled lender known by its Portuguese initials, has told a court in Brasília that a municipal prosecutor from São Luís used a R$93.7 million loan, roughly USD 19 million at recent rates, to buy shares in the bank as part of a broader scheme to hide who was really building influence over the lender. The allegation appears in single-source reporting from Metrópoles based on court filings and a technical investigation prepared by Kroll for BRB.
According to the report, Daniel de Faria Jerônimo Leite borrowed the money in April 2025 from Qista, described as the credit and financing arm of Reag, then used R$90.5 million to buy part of the shares of an investment fund that had previously acquired stock from another fund called Verbier. By December 30, the article says, Leite held a 2.2% stake in BRB.
What BRB Alleges
BRB has sued banker Daniel Vorcaro, Leite, Banco Master and other companies, funds and individuals in the Court of Justice of the Federal District and Territories (TJDFT), which serves Brasília. The bank argues that the defendants acted in a coordinated way to take control of BRB through a fragmented and opaque shareholding structure while enabling the sale of bad or even non-existent loan portfolios.
The disputed transactions are tied to two private capital increases carried out between 2024 and 2025. In the first round, according to the article, two businessmen who already held stakes in BRB bought new shares and later transferred them to the Verbier and Borneo funds. Once inside the shareholder base, those funds were then able to join a second round of capital increases.
Kroll's investigation, as described by Metrópoles, says Leite acted as an "instrumental figure" for Vorcaro, Maurício Quadrado and João Carlos Mansur. The report also alleges what it called a circular flow of funds, in which the borrowed money used to buy BRB shares later returned to the Master ecosystem through certificates of deposit, or CDBs, a common fixed-income instrument in Brazil.
Asset Freeze and Defense
BRB argues that Leite lacked the financial capacity for an investment of that scale. The bank said he had previously informed Brazil's Central Bank that he earned R$35,000 a month and had total assets of about R$6 million. In February, the TJDFT granted a preliminary request from BRB and froze all BRB shares held by the defendants, including Leite's holdings. On February 26, the article says, his ordinary and preferred shares together were worth about R$50 million.
Leite disputes BRB's account. In court, according to Metrópoles, he said the bank's description of his finances was false and that he actually had monthly income of R$579,000 and assets of R$75 million. He said he is not only a municipal prosecutor but also a rural landowner, a federal council member of Brazil's bar association and a founding partner of a law firm. He also cited past public posts in São Luís and Maranhão.
His legal team said there is no direct or indirect link between Leite and the individuals or companies under investigation. The defense added that the Kroll report itself said no additional links had been identified, that the BRB share purchase was regular and transparent, and that Leite invested in his own name using formal contracts with traceable financial flows. The defense also said no public information at the time suggested irregularities in the institutions involved.
The case matters beyond one investor because it goes to the heart of who was trying to control BRB, how that control may have been built, and whether the bank's recent capital transactions reflected genuine outside investment or coordinated recycling of money within a closed financial network. Those questions are still being contested in court.
accessed on 21 April 2026