John Luzuriaga and Jorge Cherrez Mino Charged With Bribery and Money Laundering in Ecuador
Last week, the Department of Justice unsealed criminal complaints against two Ecuadorian citizens for allegedly participating in a long-running bribery scheme involving the Ecuadorian public police pension fund (ISSPOL). John Luzuriaga Aguinaga and Jorge Cherrez Mino were each charged with one count of conspiracy to commit money laundering.
Early Life and Education
Luzuriaga joined UMass Medical School as a fellow in viral immunology in 1987 and collaborated with her mentor John Sullivan MD, professor of pediatrics and infectious diseases to establish a maternal-child AIDS clinic to address the growing number of HIV-infected women.
She specializes in the social, cognitive and language development of children from racially marginalized backgrounds. Additionally, her research examines measurement development and early childhood system design.
Luzuriaga’s academic work is complemented by her involvement on several community boards and commissions. She strongly advocates for racial equity in education as well as gender parity within it.
John Luzuriaga, a former Ecuadorian government official and investment manager formerly based in Miami, has been arrested on allegations of accepting $1.4 million worth of bribes while working as risk director for the country’s police pension fund. Additionally, it is alleged that he laundered proceeds through bank accounts located in the United States for himself and other co-conspirators.
This case stems from a money laundering investigation involving multiple companies and investment funds. According to the complaint, John Luzuriaga was paid bribery proceeds by Jorge Cherrez Mino, an Ecuadorian investment adviser who managed multiple Florida-based investment funds.
Achievements and Honors
Luzuriaga served as Risk Director of the Instituto de Seguridad Social de la Policia Nacional (“ISSPOL”), Ecuadorian police officers’ pension fund. He oversaw financial contributions from this elite force while overseeing several important projects such as creating the world’s first online banking platform exclusively for Ecuadorians.
Luzuriaga served on multiple committees during his time at ISSPOL, including the Investment Committee. Through his appointment of a new CEO and increased revenue generation while cutting costs, this set up future investments that have contributed to ISSPOL’s most successful year to date.
John Luzuriaga served as a public official in Ecuador until his arrest for accepting approximately $1.4 million in bribes as the risk director of the country’s police pension fund. He was arrested alongside an investment manager operating out of Panama and Miami.
He was charged in criminal complaints filed in the Southern District of Florida on February 10 and 19, respectively.
He was found guilty in 2022 of one count of conspiracy to commit money laundering, stemming from his alleged bribery of officials at Ecuador’s police pension fund (ISSPOL). According to the complaint, Luzuriaga accepted approximately $1.4 million in bribes from Jorge Cherrez Mino while serving as ISSPOL’s risk director; these funds were then laundered through various Florida-based investment fund companies Cherrez had established.