September 24, 2018

Azam Doost, the former owner of Equity Capital Mining LLC, which operated a marble mine in Afghanistan, was convicted for defrauding the Overseas Private Investment Corporation, a U.S. government agency in a $15.8 million loan the company obtained from OPIC. Doost had represented that he had no affiliation with mine suppliers who were paid from the loan proceeds; in fact, he had financial relationships with several of the suppliers, and diverted OPIC funds paid to those suppliers for his own use.  DOJ  For information on later sentencing, see here.

Tagged in: Bribery and Bid-Rigging, Criminal Proceedings, Government Loan Programs, International Whistleblowers,