Man Accused Of $2B Fraud In Africa Says He's No Flight Risk

Law360, New York (January 22, 2019, 10:54 PM EST) -- A former lead salesman for Abu Dhabi-based shipbuilder Privinvest on Monday asked a New York federal judge to let him out on bail following his indictment over alleged involvement in a $2 billion bribery and investor fraud scheme, saying a $20 million bail package with 24/7 private security would ensure he shows up in court.

Jean Boustani, a 40-year-old Lebanese national, is accused alongside former Credit Suisse bankers and Mozambique’s former finance minister of using government-controlled companies to secure more than $2 billion in state-backed loans, which were purportedly for maritime projects in the African country to be completed by Privinvest. ...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS