Salesman Cleared in $2 Billion African Scam in Blow to U.S. - Bloomberg:
A Privinvest Group salesman was acquitted of defrauding investors in a $2 billion global loan scandal that prosecutors said involved more than $200 million in bribes to bankers and Mozambican officials, a blow to U.S. efforts to police corruption abroad.
Jean Boustani, who worked for the global shipbuilding company based in the United Arab Emirates, was found not guilty Monday on all three conspiracy counts against him -- to commit wire fraud, securities fraud and launder money. He smiled and crossed himself after the verdict was read out in federal court in Brooklyn, N.Y., and embraced each of his lawyers in a bear hug.
“Your honor, first of all, I apologize for being emotional, a little bit. It wasn’t easy for me after 11 months in jail,” he told U.S. District Judge William Kuntz. Boustani, who’d been in jail in the U.S. since his arrest in early January at John F. Kennedy International Airport in New York, thanked the court “for all your time, dedication and for your fair judgment throughout this trial.” He raised his fist in the air on the way out.
The verdict came down to the venue, three jurors, including the foreman, said in interviews afterward. All three, who declined to give their names, said the panel didn’t see how federal prosecutors in Brooklyn, in the Eastern District of New York, had the authority to prosecute crimes that hadn’t occurred in their jurisdiction.
A Privinvest Group salesman was acquitted of defrauding investors in a $2 billion global loan scandal that prosecutors said involved more than $200 million in bribes to bankers and Mozambican officials, a blow to U.S. efforts to police corruption abroad.
Jean Boustani, who worked for the global shipbuilding company based in the United Arab Emirates, was found not guilty Monday on all three conspiracy counts against him -- to commit wire fraud, securities fraud and launder money. He smiled and crossed himself after the verdict was read out in federal court in Brooklyn, N.Y., and embraced each of his lawyers in a bear hug.
“Your honor, first of all, I apologize for being emotional, a little bit. It wasn’t easy for me after 11 months in jail,” he told U.S. District Judge William Kuntz. Boustani, who’d been in jail in the U.S. since his arrest in early January at John F. Kennedy International Airport in New York, thanked the court “for all your time, dedication and for your fair judgment throughout this trial.” He raised his fist in the air on the way out.
The verdict came down to the venue, three jurors, including the foreman, said in interviews afterward. All three, who declined to give their names, said the panel didn’t see how federal prosecutors in Brooklyn, in the Eastern District of New York, had the authority to prosecute crimes that hadn’t occurred in their jurisdiction.
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