US Convicts Ex-Afghan Mining Company Owner Of Fraud, Money Laundering - Justice Dept.

WASHINGTON (UrduPoint News / Sputnik - 25th September, 2018) The former owner of a marble mining company has been convicted by a Federal jury of defrauding the US Overseas Private Investment Corporation (OPIC), the Justice Department said in a press release.

"After a seven-day trial, Azam Doost... was found guilty of three counts of major fraud against the United States, eight counts of wire fraud, four counts of false statements on loan applications or extensions and five counts of money laundering," the release said on Monday.

Doost and his brother, the release added, secured a $15.8 million loan in 2010 for development and operation of a marble mine in western Afghanistan. The loans were supposed to be allocated directly to vendors Doost was not affiliated with. However, trial evidence revealed that the suspect had arrangements with the OPIC loan recipients who funneled the money to Dost for other purposes including repaying other unrelated personal debts.

Doost is scheduled to be sentenced on December 14, according to the release.