Bloomberg - Are you a robot?
Source: bloomberg.com
- President Lula publicly blames former President Bolsonaro for the Banco Master scandal, tying it to his administration's oversight failures.
- The scandal involves $2.2 billion in missing funds from fake transactions that ensnared politicians, judges, and criminal groups like the PCC.
- With investigations hitting the Supreme Court and Lula's allies, this feud escalates ahead of the 2026 election.
Brazil's massive Banco Master fraud—uncovered as a $2.2 billion scheme with phony assets and political ties—has President Lula pointing fingers at Bolsonaro to deflect blame. The piece details Lula's March 20, 2026, speech slamming Bolsonaro's era for enabling the rot. It matters because this scandal is ripping apart Brazil's elite alliances, threatening Lula's reelection bid amid probes into his own circle.