Salesman Denied Bail Bid With 24/7 Security In $2B Fraud Row
Law360 (February 4, 2019, 9:36 PM EST) -- A New York federal judge on Monday refused to greenlight a $20 million bail package that included 24/7 private security for a former lead salesman for Abu Dhabi-based shipbuilder Privinvest accused of taking part in a $2 billion bribery and investor fraud scheme in the African nation of Mozambique, voicing concern about disparate treatment for wealthy defendants.
U.S. District Judge William F. Kuntz in Brooklyn declined to grant bail to Jean Boustani, a 40-year-old Lebanese national accused alongside former Credit Suisse bankers and Mozambique's former finance minister of various misdeeds in connection with $2 billion in government-backed loans for purported maritime...
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