Financial Adviser Pleads Guilty In Ecuador Oil Bribery Case

Law360, Miami (October 11, 2019, 12:01 PM EDT) -- A former Miami financial adviser pled guilty Friday on the eve of a trial in a federal criminal case claiming he violated the Foreign Corrupt Practices Act by funneling millions to Ecuadorian oil officials to secure contracts for a private company.

Frank Chatburn Ripalda pled guilty to a single count of conspiracy to commit money laundering, as part of a plea agreement with federal prosecutors. The 42-year-old faces up to 20 years in prison and a fine of $500,000 or twice the gain or loss in the case, U.S. District Judge Marcia G. Cooke said.

Chatburn, a former adviser with Miami-based...

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