Ecuadorian Official Sentenced to Prison After Accepting Bribes
The former chairman of Ecuador’s state-owned surety company was sentenced to 51 months in prison after accepting more than $5 million in bribes, the Justice Department said March 23. Juan Ribas Domenech, who headed Ecuador’s Seguros Sucre and advised the…
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then-president of Ecuador, took bribes in exchange for contracts awarded to three United Kingdom-based reinsurance brokers, the agency said. The bribes were paid through intermediaries and a portion of the money was laundered through the U.S. Domenech pleaded guilty to the money-laundering charges in September 2020.