Bankest Exec Gets 20 Years For Fraud

Law360, New York (August 29, 2007, 12:00 AM EDT) -- Eduardo Orlansky, the co-founder and ex-chairman of E.S. Bankest LLC, was sentenced Tuesday to 20 years in prison and ordered to make restitution of nearly $165 million for his role in defrauding former partner company Banco Espirito Santo.

At the sentencing hearing, Judge Adalberto Jordan of the U.S. District Court for the Southern District of Floria called the magnitude of the fraud “staggering,” and rejected Orlansky's pleas for leniency.

“This lengthy sentence reflects the seriousness and magnitude of this defendant’[s] fraud,” said R. Alexander Acosta, the...
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