[JURIST] The Supreme Court of Peru [official website, in Spanish] has convicted former Peruvian economy minister Jorge Baca Campodonico of embezzlement, according to the government's official gazette Saturday. Campodonico diverted $59.4 million from government funds to failing private bank Banco Latino. His three year prison sentence was suspended, but he has to pay 2 million nuevo sols [approximately US $666,000] in civil reparations and is banned from holding public office in Peru [JURIST archive] for one year. He has appealed the court's ruling.

Campodonico served under former Peruvian President Alberto Fujimori [BBC profile; JURIST news archive], who is awaiting multiple trials [JURIST report] on charges of corruption and human rights violations. After serving under Fujimori, Campodonico worked for the International Monetary Fund [official website]. He was detained [NYT report] in 2003 in Argentina and extradited to Peru earlier this year. AP has more. El Peruano has local coverage.