In brief
An August 2025 video shows Moraes and his wife leaving a Prime Aviation jet linked to Vorcaro, contradicting the justice's March statement.
His wife's firm says the flights were hired as air taxis, with no personal tie.
What we know
04Verified fact · material
A video released on September 20 by Lauro Jardim's column at O Globo shows Alexandre de Moraes and Viviane Barci disembarking on August 22, 2025 from a Prime Aviation aircraft, a company that had Daniel Vorcaro as a partner.
Video record of a flight the justice had denied.
Verified fact · material
The Barci de Moraes firm, which provided legal services to Banco MasterBanco MasterOrganizationBrazilian mid-sized bank at the center of regulatory probes into asset valuation and funding, whose stress spread to counterparties such as BRB.Open in the Market Map ↗, said in a statement it hires air taxis from different companies, including Prime Aviation, on operational criteria with no personal tie, and that Vorcaro was on none of the flights.
The firm's official account of how the flights were hired.
Verified fact
On March 31 Moraes said in a statement he had never traveled on any Daniel Vorcaro plane; InfoMoney, citing O Globo and Folha, reports the Federal Police found at least eight flights between May and October 2025.
Contradiction between the statement and the records found.
Sources[01]Verified fact
According to Agência Brasil, the firm said the hiring of services follows operational criteria and involves no personal tie; the story does not mention the Federal Police investigation.
The official outlet's framing of the statement.
Sources[02]
Transmission to assets
Market read-through
For the market, the video prolongs the institutional crisis around the Master caseBanco MasterOrganizationBrazilian mid-sized bank at the center of regulatory probes into asset valuation and funding, whose stress spread to counterparties such as BRB.Open in the Market Map ↗ and lowers the odds the Supreme Court settles the rapporteurship soon, keeping political risk in long rates and the currency.
There is no direct effect on MasterBanco MasterOrganizationBrazilian mid-sized bank at the center of regulatory probes into asset valuation and funding, whose stress spread to counterparties such as BRB.Open in the Market Map ↗ assets, already in liquidation, but the dispute taints the regulatory agenda opened by Dino.
Portfolio impact
01A prolonged institutional crisis keeps political risk premium in Brazilian assets.
Diffuse effect, dependent on the political news flow.
What would change the view: New Supreme Court developments before the first round.
Direction is an explanatory hypothesis, not a forecast or recommendation.
Next signals
What to watch
- A new date for the trial on Mendonça's conduct in the Master caseBanco MasterOrganizationBrazilian mid-sized bank at the center of regulatory probes into asset valuation and funding, whose stress spread to counterparties such as BRB.Open in the Market Map ↗
- Daniel and Henrique Vorcaro's Federal Police depositions on September 30
- Moraes's response to the video and the March statement
Limits of the reporting
What remains uncertain
- Coverage differs on the arrival airport: Santos Dumont (Agência Brasil) or Catarina, in São Roque (Estadão Conteúdo); the original video is at O Globo, inaccessible to the coordinator.
- Who paid for the flights and whether the firm hired them directly is the firm's own account.