Associate of liquidated Brazilian lender Banco Master's owner dies, lawyers say

SAO PAULO, March ‌7 (Reuters) - Luiz ​Phillipi ​Mourao, an associate of lender Banco Master's owner Daniel Vorcaro, died on Friday night, ‌according to a statement released by his ⁠attorneys on Saturday.

Mourao was declared brain dead after a suicide ‌attempt, police said on ‌Wednesday, when he was among those arrested in the latest phase of the investigation involving the ​liquidated Master.

Master, which held under 1% of Brazil's banking assets, was liquidated in November due ⁠to what the central bank called a severe liquidity crisis, sharp ​financial deterioration and serious rule violations.

The investigation into the lender's unraveling has exposed a network ​of influence and conflicts of ‌interest shaking trust in some of Brazil's most powerful institutions.

Vorcaro was arrested on ⁠Wednesday, accused of bribing two central bank officials and also plotting to attack and intimidate people he perceived ⁠as acting against his interests with Mourao, whom he called "Sicario" ​after the hit men employed by Mexican cartels.

Vorcaro's lawyers said they denied the allegations, and they expected to demonstrate "the ‌regularity of his conduct."

Minas Gerais state civil police said on Saturday that Mourao’s ‌body was sent to forensic scientists for examination ⁠and would be released ‌to his family ​after tests are completed.

(Reporting by Rodrigo Viga Gaier; Writing by Oliver GriffinEditing by Tomasz ‌Janowski)

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