CONFISCATIONS/ Who is who?
JUAN FALCONÍ PUIG

Manifest enemy of the Isaias family, he is a devious and calculating attorney who roams among the highest levels of the country’s economic and political powers.  Since the eighties he has been an influential politician and has participated in almost all of the presidential administrations.
He was a minister during Rodrigo Borja’s presidency, advisor to Rosalia Arteaga, Mahuad’s Super minister during the bank holiday and coauthor of the 1492 Decree along with Pedro Delgado and President Mahuad; said decree reduced the savings accounts of all depositors in half. He was also Superintendent of Banks during the Noboa administration.


He is closely tied to the inner circle of correista regime and is the mastermind behind the confiscation of the assets pertaining to the Isaias brothers. He has served in all his posts to favor his relatives and friends and to harm his enemies. He has been linked to various banking scandals such as Bank Cofiec belonging to his in laws, the Avellan; Banco del Progreso property of his friend Fernando Aspiazu and Pacific Bank which he headed and was the mastermind behind the  La Previsora-Filanbanco merger which benefitted his friends and former shareholders the Guerrero Ferber siblings.


Prior to that merger Juan Falconi and Pedro Delgado refused to liquidate La Previsora, which was estimated at $400 million dollars, and instead executed the extraordinary merger of Filanbanco with La Previsora causing the country a loss of 1,425 billion US dollars. This allowed the Ferber Guerrero’s to pay off their debts and initiated the bankruptcy of the state run Filanbanco. For this and other acts of corruption, Juan Falconi was impeached by the National Congress and prosecuted for embezzlement.


In 2008, through its Constituent Assembly, Juan Falconi benefitted from an amnesty “combo” granted to him by Correismo seeking to wash away his multiple acts of corruption. By mid 2013, Falconi was named Ambassador of Ecuador for the United Kingdom by the Correa regime.

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