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Jailed tycoon's rice to be sold

Authorities in Bolivia plan to sell more than 13,000 tons of rice that have been seized from a jailed US citizen.

New York businessman Jacob Ostreicher has been jailed without being charged since June in connection with a money laundering investigation. He says he is innocent.

Moises Aguilera heads a Bolivian agency in charge of handling seized goods and says the rice will be sold in January so that it does not go bad.

Lawyer Jerjes Justiniano represents Mr Ostreicher and called the sale illegal. He said that authorities had not given him an opportunity to appeal.

The lawyer said the proceeds of the rice sale are to be held in a government account and if his client eventually goes free, he is supposed to recoup the money.


From Belfast Telegraph