John Christopher Polit Pleads Guilty to Money Laundering

John Christopher Polit, a former banker in Miami, pleaded guilty to conspiracy to commit money laundering, admitting to laundering over $16 million in bribe payments for his father, Carlos Ramon Polit Faggioni, the ex-Comptroller General of Ecuador. The bribes were linked to Odebrecht S.A., a Brazilian construction company, which paid Carlos Polit to avoid fines from 2010 to 2015. John Polit's actions involved creating shell companies and layering transactions through Panamanian accounts to conceal the illicit funds, which were then invested in various South Florida businesses, including real estate and restaurants. He faces a maximum of 10 years in prison, with sentencing scheduled for January 30, 2025. Carlos Polit had already received a 10-year sentence following his conviction in April. The case underscores the extensive corruption involving Odebrecht, which has pleaded guilty to similar bribery schemes across multiple countries.