Boustani Acquitted In $2B Mozambique Loan Fraud Case

By Stewart Bishop (December 2, 2019, 12:49 PM EST) -- 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.

Jurors told reporters that their acquittal of Jean Boustani, a Lebanese citizen working for Abu Dhabi-based Privinvest, came down to a lack of a connection between his actions and the Eastern District of New York. (AP)

A Brooklyn jury of nine women and three men acquitted Boustani of conspiracy to commit securities fraud, wire fraud conspiracy and conspiracy to commit money laundering. The roughly seven-week trial ended...

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