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. ...
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