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USA v. Boustani et al

  1. June 26, 2023

    Ex-Mozambique Official Nears Extradition For $2B Fraud Case

    A former Mozambican government minister is expected to soon face fraud and money laundering charges, a New York federal prosecutor said Monday, in the long-dormant "tuna bonds" case arising out of alleged bribery and investor fraud that marred $2 billion in Mozambican government-backed debt transactions.

  2. August 11, 2022

    Ex-Credit Suisse Banker Avoids Jail In $2B Mozambique Case

    A former Credit Suisse banker from London avoided prison Thursday for taking $200,000 of dirty money that flowed from Mozambique's $2 billion loan bribery and corruption scandal, after a federal judge in New York cited her "extraordinary cooperation."

  3. December 19, 2019

    The Biggest White Collar Cases Of 2019

    From men on the periphery of a presidential scandal to rich parents bribing their kids' way into college, 2019 was rife with headline-grabbing white collar cases, even while prosecutors suffered defeat in some of their most complicated fraud trials. Here, Law360 looks back at a few of the biggest white collar rulings of 2019.

  4. December 02, 2019

    Boustani Acquitted In $2B Mozambique Loan Fraud Case

    A New York federal jury cleared Privinvest Group executive Jean Boustani on Monday of conspiracy charges brought over an alleged fraud and kickback scheme involving $2 billion in Mozambican government-backed loans for maritime projects.

  5. November 21, 2019

    Boustani Atty Downplays Bribery To Close $2B Fraud Case

    In his closing statement at a Brooklyn federal conspiracy trial Thursday, an attorney for Privinvest Group executive Jean Boustani diminished the seriousness of bribery — comparing it to tipping — and argued that his client should be acquitted despite funneling millions to bankers and Mozambican officials.

  6. November 19, 2019

    Boustani Denies Bribes, Says He 'Tangoed' With Mozambicans

    Privinvest Group executive Jean Boustani readily acknowledged at his fraud and money laundering trial Tuesday in Brooklyn federal court that he arranged to pay a Mozambican agent and a Credit Suisse banker millions, but declined to call them bribes or kickbacks.

  7. November 13, 2019

    Feds Rest In Case Of Alleged $2B Mozambican Loan Fraud

    New York federal prosecutors on Wednesday rested their monthlong case against Privinvest Group executive Jean Boustani, who stands accused of conspiring to defraud investors in $2 billion worth of loans used to finance state-backed maritime projects in Mozambique.

  8. November 08, 2019

    Fund Lost Millions In Mozambique Loan Fraud, Jury Told

    A former portfolio manager at AllianceBernstein on Friday testified of how the hedge fund lost millions of dollars from its stake in a Mozambican government-backed loan, which prosecutors say was tainted by a bribery scheme led by Privinvest executive Jean Boustani.

  9. November 05, 2019

    Boustani In On Loan Scam, 2nd Ex-Credit Suisse Banker Says

    A former Credit Suisse Group investment banker on Tuesday took the witness stand in the trial of Privinvest Group executive Jean Boustani over a complex purported $2 billion fraud and kickback scheme involving Mozambican maritime projects, telling jurors he agreed to take bribes from Boustani in exchange for smoothing over loan deals.

  10. October 25, 2019

    Boustani Jury Hears Of Alleged Graft That Fueled $2B Fraud

    Jurors in the $2 billion fraud and kickback trial of Privinvest Group executive Jean Boustani on Friday saw a trove of emails purportedly detailing tens of millions of dollars in bribes being paid to Mozambican government officials to secure a coastal surveillance contract for the Abu Dhabi-based shipbuilder.