CASO TOFFOLI: O RESORT MILIONÁRIO QUE LIGA STF, BANCO MASTER E JBS

Summary

In this Market Makers cut, Felipe Moura Brasil details the financial web linking family members of Supreme Court Justice Dias Toffoli to Banco Master and JBS through a luxury resort in Paraná. He describes multimillion-reais contributions from a fund tied to the brother-in-law of banker Daniel Vorcaro into Toffoli-family companies, the later sale of that stake to a lawyer connected to JBS, and the Central Bank's liquidation of Reag Investimentos. The excerpt also covers suspicions of a front address, recusal requests against Toffoli, and the court's resistance to an ethics code, framing the episode as an institutional scandal rather than an investment case.

• Felipe Moura Brasil lays out the corporate web connecting Toffoli's brothers and cousin, single-investor funds, and the Tayayá Aqua Resort.
• Fund Arlin, linked to Daniel Vorcaro's brother-in-law, invested millions and became a partner in the companies administering the resort.
• The stake was sold in 2025 to Paulo Barbosa, a lawyer who works for JBS in Goiás, deepening the links to the Master case.
• Reag Investimentos, manager of the funds involved, had its liquidation decreed by the Central Bank in January 2026.
• Reporters found signs of a front address and employees said Toffoli remains the de facto owner of the resort.
• The PGR rejects recusal requests against Toffoli, who also sent PF evidence to his own office and chose the forensic experts.
• The discussion also cites a contract between Banco Master and the law firm of Alexandre de Moraes' wife and resistance to an ethics code at the STF.
• No explicit investment recommendation is made; the case is treated as a political and institutional scandal.