United States: Two Men Charged in Ecuadorian Bribery and Money Laundering Scheme

Criminal complaints have been unsealed charging two Ecuadorian citizens for their alleged roles in a bribery and money laundering scheme involving Ecuador’s public police pension fund (ISSPOL).

John Luzuriaga Aguinaga, 52, and Jorge Cherrez Miño, 46, were each charged with one count of conspiracy to commit money laundering in complaints filed in the Southern District of Florida on Feb. 10 and Feb. 19, respectively. Luzuriaga was arrested Feb. 26 and had his initial appearance Monday. An arrest warrant has been issued for Cherrez who is believed to be in Mexico.

As alleged in the complaints, between approximately 2014 and 2020, Cherrez, an investment advisor, paid more than $2.6 million in bribes to ISSPOL officials, including at least approximately $1,397,066 to Luzuriaga, ISSPOL’s Risk Director and a member of ISSPOL’s Investment Committee, in order to obtain and retain investment business from ISSPOL. Cherrez allegedly obtained approximately $65 million in profits from one aspect of the scheme.

According to the complaint, Cherrez received payments from the ISSPOL investment business in an account in the United States, used Florida-based companies and bank accounts to pay the bribes, and took acts in furtherance of the bribery scheme while in the Southern District of Florida.  Further, to conceal and promote the bribery scheme, Cherrez and Luzuriaga allegedly laundered the corrupt proceeds through Florida-based companies and bank accounts, including numerous U.S. investment fund companies incorporated in Florida with Cherrez as an officer or director.

Acting Assistant Attorney General Nicholas L. McQuaid of the Justice Department’s Criminal Division, Special Agent in Charge Kelly Jackson of the IRS-Criminal Investigation’s (IRS-CI) Washington, D.C. office, and Special Agent in Charge Anthony Salisbury of U.S. Immigration and Customs Enforcement’s Homeland Security Investigations (HSI) Miami office made the announcement.

The original full article can be found at justice.gov

 

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