Boustani Testifies Of African 'Gold Rush,' Denies $2B Fraud

Law360, New York (November 18, 2019, 9:46 PM EST) -- Privinvest Group executive Jean Boustani took the stand in Brooklyn federal court Monday to deny that he defrauded investors in $2 billion worth of loans used to finance state-backed maritime projects in Mozambique, recounting how he and his friends joined Africa’s “gold rush.”

Boustani appeared as a surprise witness Monday afternoon and testified for over an hour, telling the jury and U.S. District Judge William Kuntz how he came to be involved in business with Mozambican officials, describing his global business contacts fondly as friends while coolly denying the fraud and money laundering charges that have landed him in jail for...

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