Shipbuilding Executive Found Not Guilty in Mozambique Debt Fraud Trial

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A federal jury in Brooklyn found a Lebanese shipbuilding executive not guilty of fraud and money-laundering charges related to $2 billion of debt deals in Mozambique, a spokesman for the U.S. Attorney’s Office said.

Jean Boustani, a salesman for shipbuilder Privinvest Group, was found not guilty on charges of wire fraud, securities fraud and conspiracy to commit money laundering related to the debt raised to pay for contracts between Privinvest and Mozambique.



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