The connection between Toffoli’s family and Vorcaro’s brother-in-law at a resort in Paraná

The resort

#Banco Master

A luxury resort called Tayayá, located in Ribeirão Claro, in the interior of Paraná, close to the border with São Paulo, indirectly brought together relatives of Federal Supreme Court minister Dias Toffoli and the brother-in-law of banker Daniel Vorcaro, a central figure in investigations into alleged fraud at Banco Master

It all started in 2021, when the minister’s brothers, José Carlos and José Eugênio Dias Toffoli, shared control of the venture with an investment fund called Arleen.

This fund, in turn, had as its main shareholder Fabiano Zettel – lawyer, evangelical pastor and brother-in-law of Daniel Vorcaro (husband of the banker’s sister).

Zettel participated in Arleen through another fund, Leal, being its only shareholder, according to documents analyzed by newspapers such as O Estado de S.Paulo and Folha de S.Paulo itself.

Toffoli’s cousin, Mario Umberto Degani, was also part of the partnership in the business.

This partnership lasted until 2025. During this period, around R$20 million was invested in the resort through these funds, which were managed by Reag Investimentos – a manager currently under heavy investigation on suspicion of helping with irregular financial maneuvers linked to Banco Master.

Authorities, including the Federal Police and the Central Bank, are investigating whether the bank used a network of funds to artificially inflate its assets.

The suspicion is that simulated loans were made to companies that, instead of using the money, invested in these funds, creating dubious valuations without adequate proof.

Part of these resources would have been used to feed structures that researchers call “Vorcaro oranges”.

Daniel Vorcaro denies any involvement in or knowledge of the business of these funds and the resort.

In a statement, his defense states that he was never a shareholder, nor participated in management or investment decisions, and that he is collaborating with the authorities.

Fabiano Zettel’s defense highlights that he has known and lawful business activities, with no connection to the administration of Banco Master.

In 2025, control of Tayayá changed hands: Toffoli’s brothers and cousin, together with the Arleen fund, sold their shares to lawyer Paulo Humberto Barbosa, who previously worked as a lawyer for JBS (of the brothers Joesley and Wesley Batista).

The Toffoli brothers’ share, for example, was negotiated for around R$3.5 million.

The case gained even more attention because, following press revelations about this connection between the funds linked to Vorcaro and the minister’s relatives, Dias Toffoli authorized a Federal Police operation that resulted in the temporary arrest of Fabiano Zettel.

The businessman was detained when he tried to board a private jet to Dubai.

Some of the minister’s decisions in the process, such as initially determining that the evidence be sealed in the STF with restricted access to the Attorney General’s Office (and later withdrawing to allow analysis by PF experts), generated questions about the progress of the investigations.

It is important to remember that Dias Toffoli himself does not have direct participation in the resort, although it is common for him to frequent the place.

The episode is part of a larger context of investigations into Banco Master, which involve suspected fraud, simulations and irregular use of financial resources.

Published in 01/18/2026 01h26

Portuguese version

Text adapted by AI (Grok) and translated via Google API in the English version. Images from public image libraries or credits in the caption.

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