The US government is prosecuting two citizens of Ecuador for their alleged roles in a plot to defraud the country's police pensions fund, the Department of Justice said in a press release on Tuesday
WASHINGTON (Pakistan Point News / Sputnik - 02nd March, 2021) The US government is prosecuting two citizens of Ecuador for their alleged roles in a plot to defraud the country's police pensions fund, the Department of Justice said in a press release on Tuesday.
"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)," the release said.
John Luzuriaga Aguinaga, 52, and Jorge Cherrez Mino, 46, were each charged with one count of conspiracy to commit money laundering in the Southern District of Florida on February 10 and February 19. Luzuriaga was arrested on February 26 and an arrest warrant has been issued for Cherrez who is believed to be in Mexico, the release said.
"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," the release said.
Cherrez allegedly obtained approximately $65 million in profits from one aspect of the scheme, the release added.
