Former Ecuadorian Official Embroiled in International Bribery and Money Laundering Scheme
The former Comptroller General of Ecuador, Carlos Ramon Polit Faggioni, has been indicted in a scheme to use the U.S. financial system to launder money and conceal an illegal bribery scheme in Ecuador.
According to the March 24 indictment unsealed today in Miami, Florida, Polit allegedly solicited and received over $10 million in bribe payments from Odebrecht S.A., a Brazil-based construction conglomerate, in exchange for using his official position to influence official actions by the comptroller’s office to benefit Odebrecht and its business in Ecuador.
The indictment also alleges that Polit received a bribe from an Ecuadorian businessman in or around 2015 in exchange for assisting the businessman and his company in connection with certain contracts from the state-owned insurance company of Ecuador.
From approximately 2010 to 2017, Polit allegedly caused proceeds of his bribery scheme to “disappear” by using Florida companies registered in the names of certain associates, often without their knowledge. The conspirators also used funds from Polit’s bribery scheme to purchase and renovate real estate in South Florida and elsewhere and to purchase restaurants, a dry cleaner, and other businesses.
Carlos Ramon Polit Faggioni is charged with one count of conspiracy to commit money laundering, three counts of concealment money laundering, and two counts of engaging in transactions in criminally derived property. If convicted, he faces up to 20 years in prison for each count of money laundering and conspiracy to commit money laundering and up to 10 years in prison for each count of engaging in transactions in criminally derived property.
Polit made his initial appearance in Miami, Florida, today and is currently free on bond. His trial is pending.
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Key Facts
- State: Florida
- Category: Public Corruption|White Collar Crime
- Source: DOJ Press Release â†â€â€
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