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How the Banco Master scandal injected chaos into Brazil’s presidential race

How the Banco Master scandal injected chaos into Brazil’s presidential race

aljazeera.com 02.10.2026 18:36 4 views
Figures across Brazil's political spectrum have been linked to the scandal in the midst of a key election.

Sao Paulo, Brazil – It is one of the largest fraud scandals in modern Brazilian history. And experts say it may play a role in the nail-biter race unfolding for Brazil's presidency. On Sunday, Brazilian voters will head to the polls for the first round of the country's presidential vote.

Centre-left incumbent Luiz Inacio Lula da Silva, 80, is currently the frontrunner. He is seeking an unprecedented fourth term, after previously leading the country from 2003 to 2011. His main challenger is far-right Senator Flavio Bolsonaro, 45, the eldest son of embattled former President Jair Bolsonaro, who is serving a 27-year prison sentence for an alleged coup attempt.

The two candidates are locked in a neck-and-neck race. But both have faced fallout from the Banco Master scandal, a sprawling financial scheme that has cast a shadow over Brazil's political sphere. He pointed to the high levels of rejection Brazilian voters have expressed for both candidates.

In late September, the pollster Quaest found that 56 percent of respondents said they would refuse to vote for Bolsonaro. About 54 percent said the same about Lula. That helps explain why mobilisation and enthusiasm are fairly low,” Pereira said.

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