On May 20, 2019, news outlets reported Detelina Subeva entered a guilty plea.
- Plead guilty pursuant to a sealed agreement to one count conspiracy to launder.
- Reportedly admitted laundering secret payments to bankers paid by Privinvest.
On Mar. 8, DoJ indicted officials from Mozambique in $2bn fraud.
- Mozambique ex-finance minister was charged with other ex-Mozambican officials, include business executives, and investment bankers in alleged $2bn fraud, AML.
UAE Shipbuilder Officers
- Jean Boustani, worked for Privinvest Group, a UAE-based shipbuilding company.
- Conspired to commit wire and securities fraud and AML in relation to $200bn in
bribes and kickbacks including 3 loans totaling $2bn, which sold to US investors.
- Boustani has pleaded not guilty to the charges; a trial date has not yet been set.
- Privinvest’s chief financial officer Najib Allam was charged with the same counts.
- Allam allegedly worked with Boustani to make the bribe and kickback payments.
- Antonio do Rosario, was official with state information and security service and a
director and officer of three Mozambican entities which obtained maritime loans.
- Money to fund maritime projects for which shipbuilder, would provide equipment.
- Rosario charged with conspiracy to commit wire fraud, securities fraud, and AML.
- Teofilo Nhangumele, acted for Office of the President charged re wire fraud, AML.
in connection with negotiation and receipt of bribe payments related to the loans.
UK Investment Bankers
- Three investment bankers, Andrew Pearse; Surjan Singh; and Detelina Subeva.
- UK residents charged with wire and securities fraud, conspiracy to commit AML.
- In addition, charged with conspiracy to violate anti-bribery and internal controls
provisions of FCPA in connection with facilitating bribes to Mozambique officials.
- Pearse, Singh and Subeva were arrested on Jan. 3, 2019 in UK, with provisional
warrants, as requested by the United States, who are seeking their extraditions.