Brazil Police Expand Bank Probe Ensnaring Top Executives (3)

Brazil police on Wednesday started a new phase of a probe into executives with ties to Banco Master SA just weeks after the lender’s November liquidation by the central bank came under scrutiny from federal courts.

Supreme Court Justice Dias Toffoli authorized police action against the bank’s Chief Executive Officer Daniel Vorcaro and also investor Nelson Tanure as part of the second phase of Operation Compliance Zero, which is looking into alleged irregularities at Banco Master, according to court documents released on Wednesday. Warrants were also served to some of Vorcaro’s relatives.

The federal police asked for new warrants because ...