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Ecuador Political News

Local financial advisor sentenced to prison for bribery- South Florida Business Journal


Frank Roberto Chatburn Ripalda, a financial advisor based in Miami, was sentenced to 3.5 years in prison Wednesday for using the U.S. banking system to pay bribes to Ecuadorian government officials.

He previously pleaded guilty to one count of conspiracy to commit money laundering in U.S. District Court for the Southern District of Florida.

Chatburn, a dual U.S. and Ecuadorian citizen, admitted he paid about $3 million in kickbacks to to officials at PetroEcuador, the state-owned oil company, in exchange for contracts between 2013 and 2018.

To read the full article on South Florida Business Journal, click here.


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