"Mr. Second Passport" -- a USA Expat, entrepreneur and YouTuber named Domenick Buonamici -- is out with cautionary advice to Expats seeking to qualify for an Ecuador investment visa.
He was ready to invest in a co-operative (not named by him publicly) that was offering a 14 percent annual return, insured by COSEDE, the Ecuadorian counterpart to the Federal Deposit Insurance Corporation.
Doing due diligence, Dom discovered the co-op is a level-three institution whose incoming deposits are insured only up to $5,000. And that's 5K per investor, not per investment product.
Furthermore, he found out that some co-ops are insured by COSEDE only up to $1,000.
Dom's advice and an exploration of the COSEDE website and how to use it .. are laid out on his YouTube site.
Search at YouTube.com... lied to about bank deposit insurance ecuador