Boustani Says No US Ties To Alleged Mozambique Fraud

Law360, New York (August 21, 2019, 10:03 PM EDT) -- A former salesman for Abu Dhabi-based shipbuilder Privinvest accused of taking part in a $2 billion, Mozambique-based bribery and investor fraud scheme on Wednesday urged a New York federal judge to dismiss the charges, saying they lack a sufficient nexus to the U.S.

Jean Boustani, a Lebanese national, is accused alongside former Credit Suisse bankers, Mozambique's former finance minister and others of causing state-owned companies in Mozambique to take out $2 billion in loans and then using $200 million of those funds for bribes and kickbacks.

The loans — which were sold to investors — from state-owned entities were intended to...

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