Financial Crime World

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

Background

On May 2, 2015, in a U.S. District Court in Trenton, New Jersey, Bobby Boye, a former legal advisor to the Government of Timor-Leste, pleaded guilty to defrauding the newly independent nation of $3.51 million dollars [Minister Pereira, 2015].

Events Leading to the Fraud

Boye, once a trusted advisor, had created a fake New York law firm named Opus & Best Law Services LLC. He failed to disclose that he controlled the company to the Government of Timor-Leste [FBI, 2015]. Influencing the Government to trust Opus & Best, Boye secured lucrative contracts with the State, committing wire fraud [Minister Pereira, 2015].

Discovery of the Fraud

Following a tip from Timor-Leste authorities, the U.S. Federal Bureau of Investigation (FBI) delved into the activities of Boye. He was arrested at Newark International Airport in June 2014, charging him with conspiracy to commit wire fraud [FBI, 2015]. The cooperation between the FBI and the Government of Timor-Leste has continued throughout the ongoing investigation.

Previous Employment and Failures

Boye, a US citizen, began working in Timor-Leste as a Petroleum Tax Advisor under the Norwegian Petroleum Assistance Project (NPAP) in June 2010 [Minister Pereira, 2015]. Norwegian authorities expressed regret over their failure to uncover Boye’s previous fraudulent activities during their recruitment process [Minister Pereira, 2015].

Government Response

Minister Agio Pereira, the Minister of State and Official Spokesperson for the Government of Timor-Leste, expressed deep concern about the fraud. He stated that “New states often face the threats of unscrupulous individuals who aim to exploit our developing systems and capacities” [Minister Pereira, 2015]. The arrest, guilty plea, and impending judgment were welcomed as a measure of justice in this situation.

Plea Agreement and Sentencing

At the hearing, Boye admitted that he had knowingly, willfully, and with the intent to defraud, abused a position of trust and failed to disclose his affiliation with Opus & Best to the Government of Timor-Leste [Minister Pereira, 2015]. His sentencing hearing is set for August 13. He is expected to receive a prison sentence between 4 to 6 years without parole [Minister Pereira, 2015]. As part of his plea agreement, Boye has to make restitution in the full amount of $3.51 million to the State of Timor-Leste [Minister Pereira, 2015]. His assets, which include real estate, vehicles, bank accounts, watches, and forfeited funds will be sold to compensate the State for their losses due to this fraud.

References

  • FBI, (2015). Press Release: Bobby Boye Indicted for Conspiring to Commit Wire Fraud, retrieved from.
  • Minister Pereira, A. (2015, May 2). Statement by the Minister of State and Official Spokesperson for the Government of the Democratic Republic of Timor-Leste, retrieved from.