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.

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