STF authorizes R$ 1.9 billion block on Vorcaro assets including Basquiat paintings and US real estate
Supreme Court Justice André Mendonça approved the freeze of over R$ 1.9 billion in Brazilian Real against Daniel Vorcaro's group holdings abroad, with four items not yet assessed.
Supreme Court Justice André Mendonça authorized the freezing of more than R$ 1.9 billion in assets located outside Brazil belonging to Banco Master and companies within the Daniel Vorcaro group. The court took this decision on July 24 based on a June 19 request from the Public Prosecutor's Office. Among the seized items are two Jean-Michel Basquiat paintings valued at R$ 25 million and R$ 27.5 million, a Picasso appraised at R$ 40 million, works by Andy Warhol, Yayoi Kusama, and Frederic Anderson, a luxury estate in Colorado, a duplex apartment in Florida, another summer house in the US, a luxury farm, multiple yachts, a Mercedes-Benz, and a Ford Bronco. Additionally, R$ 280 million from the sale of an airplane is included in the assets list. Four specific items remain unevaluated, which raises the total estimated value of seized goods to over R$ 2 billion. Not all properties and financial assets linked to these entities have been identified by investigators so far.
