Former bankers of the Continental Bank shall pay to the State $ 191 million

Conticorp and brothers Ortega Trujillo, shall pay to the Ecuadorian State $ 191 million plus interest for bank embezzlement

The Conticorp group and the brothers Luis, Leonidas and Jaime Ortega Trujillo, former owners of Banco Continental, which closed in 1996 before the banking crisis of 1999, shall pay $ 191 million plus interest to the Ecuadorian state for damages caused the by the closure of that entity.

The trial was initiated by the Central Bank 19 years ago, and sought to recover loans for liquidity, they same that were diverted to other companies of the group and later replaced by worthless assets, being left in evidence embezzlement and forgery of public documents.

According to the Office of the State Procurator General, the decision of the Court of Queen´s Bench (England) supersedes the two lower courts of the Bahamas, which dismissed the complaint. Ecuador will return to these courts of the Caribbean island for the settlement of the amount.