Financial Crime World

Title: Former Timor-Leste Legal Advisor Bobby Boye Admits to $3.51 Million Dollar Fraud

Dili Courtroom Confession

  • Bobby Boye, ex-legal advisor to the Government of Timor-Leste, confessed to defrauding the country of $3.51 million dollars in a New Jersey court
  • The guilty plea was made in the presence of Timor-Leste’s Ambassador to the US, Domingos Sarmento Alves

Arrest and Investigation

  • Bobby Boye was taken into custody at Newark International Airport in June 2014 and charged with wire fraud conspiracy
  • The US Federal Bureau of Investigation (FBI) initiated an investigation into Boye’s activities following a tip from Timor-Leste authorities
  • Cooperative efforts between the FBI and the Timorese government have been ongoing

The Covert Law Firm

  • Boye manipulatively established Opus & Best Law Services LLC, a New York law and accounting firm, that Timor-Leste was unaware was secretly controlled by him
  • He recommended Opus & Best receive contracts from the Government of Timor-Leste through his influential position

Abreaction before the Court

  • Boye acknowledged in court that he abused a position of trust, knowingly, willfully, and with the intent to defraud the Timorese government
  • He failed to disclose his affiliation with Opus & Best

Sentencing and Restitution

  • Boye’s sentencing hearing is scheduled for August 13, 2015; he may receive a sentence ranging from 4 to 6 years in prison without parole
  • As part of his guilty plea, Boye is obligated to make full restitution to the State of Timor-Leste in the amount of $3.51 million dollars
  • The defendant’s seized assets - bank accounts, real estate, vehicles, and luxury watches - will be sold to reimburse the nation for damages

Recruitment and Betrayal

  • In early 2010, Bobby Boye, an American citizen, was hired by Norway’s Ministry of Finance to work in Timor-Leste under the Norwegian Petroleum Assistance Project (NPAP)
  • He assumed the role of Petroleum Tax Advisor in June 2010

Remorse and Repercussions

  • Officials from Norway have expressed remorse for overlooking Boye’s past fraudulent activities during the recruitment process
  • Timor-Leste’s Minister of State and Official Spokesperson, Agio Pereira, stated: “Justice will prevail in this case.”
  • Despite Boye’s deceit, the Government of Timor-Leste continues its progress towards strengthening its systems and capabilities