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NERA Economic Consulting was retained by the Defendant Jean Boustani, an executive of Privinvest Group, to provide economic analysis and testimony in a case involving alleged fraud and conspiracy to commit money laundering in relation to $2 billion in Mozambican state-backed loans for maritime projects.
As part of a defense case led by Willkie, Farr & Gallagher LLP in the United States District Court for the Eastern District of New York, the jury heard from former NERA expert, Dr. Chudozie Okongwu, who provided oral testimony on macroeconomic conditions in Mozambique and the performance and risks of investments in Mozambican debt.
On 2 December 2019, after a six-week trial, the jury returned a verdict acquitting Boustani of all charges. The trial and acquittal received widespread international media attention.