Former Ecuadorian president Jamil Mahuad (photo: Wikipedia)
Former president of Ecuador, Jamil Mahuad, was sentenced to 12 years in prison after being found guilty of embezzlement.
The case looked into Mahuad’s responsibility in the 1999 baking crisis in Ecuador, as he was accused of ordering the closure of banks for several days and freezing the accounts of ordinary citizens in order to protect bankers. The judge in charge of the case, Ximena Vintimilla, pointed out that embezzlement does not always involve a direct appropriation of funds, but can also mean the use of mechanisms for funds to be used in a fraudulent manner.
Earlier this week, Interpol had issued a red notice for Mahuad, who was tried in absentia, as he moved to the US after being deposed in 2000.
The first instance ruling, published on Thursday, may still be appealed by Mahuad’s defence. The former president claimed the case against him was politically motivated and blamed president Rafael Correa of interfering with the country’s judiciary.
The post Ecuador: Ex-President Mahuad Sentenced to 12 Years appeared first on The Argentina Independent.
