The principals of the financial company at the center of the largest bank fraud case in Miami history operated an elaborate charade for years to fool investors and auditors, federal prosecutors said Monday.

Brothers Eduardo and Hector Orlansky, who headed the factoring firm E.S. Bankest, face money laundering and bank fraud charges along with two former employees of their now-bankrupt company. Prosecutors say they perpetrated a $170 million Ponzi scheme, whose victims included the Portuguese banking conglomerate Espirito Santo.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]