Brazil’s Supreme Federal Court to move forward with “Dark Horse” and Willer cases after Flávio Bolsonaro’s defeat

The Supreme Federal Court (STF) is expected to advance two investigations involving Senator Flávio Bolsonaro now that he has lost the presidential race. For high-risk payment players, the relevant piece is the money trail: one case centers on alleged money laundering through betting platforms and payment services linked to lawyer Willer Tomaz.

1. Flávio Bolsonaro is under investigation in two STF cases. One alleges money laundering through betting platforms, with lawyer Willer Tomaz also named. The other examines the financing of Dark Horse, a film about the career of his father, former president Jair Bolsonaro.
2. Had Bolsonaro been elected president, the investigations could have been suspended. Under the Constitution, the head of the Executive cannot be held responsible for acts committed outside the presidential mandate, so the election result removes that possible procedural brake.
3. One of the cases is under Justice Alexandre de Moraes, who oversees the inquiry into suspected money laundering involving betting companies and payment platforms tied to Willer Tomaz. The probe started from a Federal Police procedure in Rio Grande do Sul and reached the Supreme Court after investigators found references to Flávio Bolsonaro, who has privileged jurisdiction.
4. Last Friday, Moraes ordered the freeze of up to R$ 6 billion in assets and funds linked to the lawyer, along with the lifting of his banking, tax, and foreign exchange secrecy. He also ordered the suspension of economic, financial, and corporate activities of companies linked to Willer and took measures related to the suspect’s passports.
5. Investigators say they found signs of suspicious financial movement and possible concealment mechanisms using companies in the betting sector. One point under review is a bank account linked to Alcazar Holdings, connected to Willer, where Flávio appeared as a privileged user identified as “master.” The Federal Police is trying to determine the nature of that connection and whether the senator made any transactions.

Investigators also identified travel records, meetings, and commercial relationships between the two men. One line of inquiry is tracing the origin and destination of funds moved by companies related to the lawyer, including an account that recorded approximately R$ 130 million in operations.