“The
Isaias brothers were found guilty in absentia and sentenced to eight
years in prison for falsifying financial statements. The state of
Ecuador won an important case Monday brought against it by the Isaias
brothers, a pair of fugitive bankers who were convicted of
embezzlement for their role as the heads of Filanbanco during the
Ecuadorean banking crisis in the late 1990s.”
“Ecuador
is still seeking the extradition of William and Roberto Isaias.
However the pair have received preferential treatment due to their
connections to U.S. Senator Robert Menendez, himself the subject of a
corruption investigation. The brothers were found guilty in absentia
and sentenced to eight years in prison by the Ecuadorean National
Court, who determined that the brothers had falsified Filanbanco’s
financial statements. Filanbanco received millions from the
Ecuadorean state in bail-outs during the country’s bank crisis.”
“This
is the second case the Isaias brothers have lost in U.S. courts,
after a 2014 ruling determined that Ecuador could attempt to seize
properties belonging to the brother in Florida in order to recover a
portion of the US$200 million the government of Ecuador says it is
still owed.”
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