MIAMI, FL – The recent collapse of Brazil’s Banco Master, ensnared in a multibillion-dollar fraud investigation, has a distinctly opulent Miami address. Daniel Vorcaro, the arrested CEO and largest shareholder of the shuttered bank, secretly built a portfolio of luxury homes and condominiums in South Florida, property records reveal.
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Brazilian authorities arrested Vorcaro on November 18, alleging that Banco Master created fake credit operations sold to another bank in a massive fraud scheme. As the investigation unfolds, a trail of high-value real estate acquisitions in Miami has emerged, highlighting the city’s continued role as a destination for international capital, both legitimate and questionable.
The Miami Portfolio: Mansions and High-Rise Condos
Between 2023 and early 2025, Vorcaro, who is reportedly dating fitness influencer Martha Graeff, became linked to at least four premium Miami properties. His acquisitions reflect a lifestyle of extreme luxury, which, according to Bloomberg reports, included private flights, fine dining, and a taste for Rolex and Patek Philippe watches.
The crown jewel of his spending spree is a waterfront estate at 4445 and 4425 Sabal Palm Road in the exclusive, gated Bay Point neighborhood. A Delaware LLC paid $85.2 million for the 20,500-square-foot mansion in January, a record sale for the area. The following month, the same entity paid $6.9 million for the non-waterfront home directly across the street.
The property is already undergoing a major transformation. Demolition and new construction permits were issued in August and September, paving the way for a new estate on the 1.7-acre lot, which boasts 400 feet of bay frontage and two docks.
Beyond the Bay Point mansions, Vorcaro’s holdings also include:
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A condominium at Asia on Brickell Key
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A penthouse at the prestigious Missoni Baia in Edgewater
A Second Miami Link: An Empty Office at 830 Brickell
The Banco Master scandal features another significant Miami connection. Last year, the bank leased 26,000 square feet at 830 Brickell, a new Class A office tower, agreeing to a then-record rent of $190 per square foot. That office space now sits empty following the bank’s collapse.
The Legal Cloud Over Miami Assets
With Vorcaro in custody as of last Wednesday, the future of his Miami real estate empire is uncertain. If he is formally charged and convicted in Brazil, the properties could become subject to asset forfeiture proceedings as authorities seek to recover funds allegedly obtained through fraud.
The case reinforces a recurring narrative in major international financial scandals: where there is illicit capital, a connection to Miami’s luxury real estate market is often close behind.