In July 2026, the director of the film Dark Horse, Cyrus Nowrasteh, demanded overdue payments for his work, ten months after banker Daniel Vorcaro dispatched the final installment to finance the feature, ICL Notícias reported. The production, which centers on the biography of former Brazilian president Jair Bolsonaro, received a total of R$ 62 million through five tranches sent between February and September 2025.
Daniel Vorcaro Disbursed R$ 62 Million in Funding
- Total Sourced Funding: R$ 62 million (US$ 12.3 million) disbursed by Daniel Vorcaro in five installments between February and September 2025.
- Routing Mechanism: Funds were sent to the American fund Havengate Development Fund LP via Entre Investimentos.
- Declared Foreign Expenses: GoUp Entertainment presented an internal accounting report indicating R$ 54.2 million in expenses settled directly abroad.
Federal Police Scrutiny Over Film Funding Flows
The payment demands surface in emails reproduced within a Polícia Federal (PF) report obtained by the investigative unit of ICL Notícias. Investigators are examining whether the capital provided by the controller of Banco Master actually funded the movie, or if the production functioned as a cover narrative to conceal, simulate, and divert assets. One hypothesis under review is whether a portion of the funds supported the continued stay of former federal deputy Eduardo Bolsonaro in the United States, though no proof has been established so far.
On July 10, Cyrus Nowrasteh wrote an email to executive producer Mario Frias stating that his manager had repeatedly raised the issue of unpaid compensation. Quanto ao cumprimento dos compromissos, ainda há valores devidos a mim pelo meu trabalho. Meu empresário já informou Michael sobre isso repetidas vezes. Espero que meu trabalho seja valorizado e que você compreenda que entrei neste projeto com as maiores expectativas,
Cyrus wrote. The message did not state the specific amount demanded or the total the filmmaker had already collected.
Earlier Warnings from Political Figures on Payment Delays
Months prior to the director’s July 2026 demands, figures had already flagged the risk of liquidity bottlenecks. In an audio message sent to Daniel Vorcaro on September 8, 2025, Senator and presidential candidate Flávio Bolsonaro (PL-RJ) highlighted the danger of falling behind on payments to Cyrus Nowrasteh and actor Jim Caviezel, using the risk of delays to prompt the banker for additional capital injections.
É porque tá num momento muito decisivo aqui do filme e como tem muita parcela pra trás, cara, tá todo mundo tenso e fico preocupado aqui com o efeito contrário do que a gente sonhou pro filme, né? Imagina a gente dando calote num Jim Caviezel, num Cyrus, os caras renomadíssimos lá no cinema americano, mundial. Pô, ia ser muito ruim, né?,
the senator stated, according to the federal police report. On September 16, 2025, the banker transferred a fifth installment of US$ 1.6 million, marking the last remittance verified by the PF to date. Yet, by July 2026, Cyrus was still pressing for compensation.
| Date | Event / Transaction | Amount / Details |
|---|---|---|
| Feb – Sep 2025 | Installment disbursements by Daniel Vorcaro | Total of R$ 62 million (US$ 12.3 million) across 5 tranches |
| Sep 8, 2025 | Audio message from Sen. Flávio Bolsonaro to Vorcaro | Warned of payment risks to Cyrus Nowrasteh and Jim Caviezel |
| Jul 10, 2026 | Cyrus Nowrasteh email to Mario Frias | Demanded overdue payments for directorial work |
| Jun 25, 2026 | Consultant Dennis Rice resignation | Submitted an overdue invoice covering six months of reduced-rate work |
Mario Frias Guarantees Financial Obligations Will Be Met
The day after Cyrus’s July email, Mario Frias replied that he recognized the director’s contribution and guaranteed that financial obligations would be met. Por favor, não se preocupe. Honraremos todos os compromissos que assumimos com você, assim como honraremos todos os compromissos que assumimos com cada pessoa envolvida neste projeto. Somos pessoas de palavra, e isso nunca mudou,
Frias stated. The files reviewed by ICL Notícias do not contain receipts confirming whether the balance was eventually settled.
Financial records obtained in the investigation show that GoUp Entertainment submitted a private accounting report asserting that R$ 54.2 million in expenses were settled abroad. Conversely, twenty exchange contracts filed by the Brazilian corporate entity logged the entry of roughly US$ 2.82 million—equivalent to R$ 14.69 million—into the country via Moneycorp Banco de Câmbio, classified as loans from the American GoUp entity to its Brazilian counterpart. This discrepancy prompted the Federal Police to request a formal accounting and financial audit.
Consultant Dennis Rice Resigns over Unsustainable Environment
Financial friction extended beyond the director’s office. On June 25, 2026, Dennis Rice, then a consultant for GoUp Entertainment on the project, resigned from the production citing an unsustainable work environment and submitted an invoice for six months of services rendered at a reduced rate. While GoUp questioned whether the bill aligned with the contract, the company indicated a willingness to negotiate. Rice followed up on July 28, declaring that the invoice was severely overdue.
Concurrent correspondence revealed discussions regarding a prospective screening of Dark Horse in Washington and Mar-a-Lago, potentially hosted by Donald Trump. Cyrus reported that a U.S. State Department subsecretary had offered support for a Washington premiere. However, Karina da Gama of GoUp Entertainment informed the team on June 24, 2026, that the event must be canceled following instructions from Eduardo Bolsonaro and Mario Frias due to political sensitivities. Dennis Rice contested the cancellation, stating he had prior authorization to confirm the session with hosts who had already invited authorities and other personalities, though subsequent email exchanges confirm the event did not take place.
