Boustani Loses Bid To Dismiss Brushed-Up Fraud Indictment

Law360 (October 4, 2019, 10:53 AM EDT) -- A former salesman at an Abu Dhabi shipbuilder accused of securities fraud involving $2 billion in Mozambican government loans lost his bid to dismiss the case on Thursday when a Brooklyn federal judge said prosecutors’ second try at an indictment anchored the scheme in the U.S.

Jean Boustani is scheduled to be tried Oct. 15 on charges he was part of a cabal of Credit Suisse bankers and Mozambican officials involved in a bribery and fraud scheme. Prosecutors claim they enticed the government to borrow the money for projects carried out by Boustani’s company Privinvest and then took $200 million as...

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