The Brazilian banker who was arrested last week as part of what authorities allege is a multibillion-dollar fraud that owns a waterfront estate in Miami, and has been linked to other properties in South Florida, The real deal has learned

BancoMaster’s CEO and majority shareholder, Daniel Varcaro, owns the 20,500-square-foot mansion at 4445 and 4425 Sabal Palm Road in Miami’s gated Bay Point neighborhood, as well as a non-waterfront house across the street at 4430 Sabal Palm Road, the sources said. trd. Gold Beach Properties LLC paid $85.2 million for the waterfront estate in January. A month later, the same LLC paid $6.9 million for a non-waterfront house.

Vorcaro was arrested last week as part of a fraud investigation by Brazilian authorities at the Rio de Janeiro-based bank. They allege the bank created fake credit operations that were then sold to Banco de Brasilia SA, according to Bloomberg and other publications.

BancoMaster also leased 26,000 square feet at 830 Brickell in Miami for $190 per square foot, a Florida record.

Varcaro’s lawyers’ office did not immediately respond to a request for comment.

Vivian Wolk of A Sotheby’s International Realty, which represented the buyer in both Bay Point deals, said she could not comment. Fotos Rosenberg, the seller of the waterfront property, posted trd and later said that Rosenberg did not know Vercaro. Rosenberg’s agent, Stephanie Jordan Padren of Consultants Immobilier, did not respond to requests for comment.

The $85.2 million sale set a record for Bay Point, blowing away the previous benchmark, along with the $38.5 million sale of Adonis Concrete CEO Luis Garcia’s waterfront mansion in 2023. The neighborhood is north of Edgewater and the Miami Design District.

Varcaro’s 1.7-acre estate, which has 11 bedrooms, 12 bathrooms and four half-bathrooms, includes a pool, two docks and 400 feet of bay frontage. It was developed in 2008 and expanded in 2017. Records show that the LLC purchased the property and began construction on the property. Records show demolition permits were issued in August, and permits for new construction were issued in September.

Entities linked by address show the same buyer also bought a penthouse in the Missoni Baya condo tower in Edgewater, and a condo in Asia on Brickell Key. The purchase price of the Missoni Baya unit was not available online, but records show the LLC paid $2.8 million for Asia Condo.

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A waterfront estate in Miami’s Bay Point sells for a record $85m