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Final Ruling In Ojjeh Case Led To A Multi-Million Dollar Restoration Verdict

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In a regulatory filing disclosedthe shareholders from Reserves “discussed animpending settlement outline that would determine the restitution dispute in Jean Alexander Ottke’sknown as Alex Ojjeh’s case.

The court took the plaintiffs’ side in the second month, finding that they were clearly victims and were entitled to compensation. The court acknowledged in its order that the parties did not meaningfully argue that conspiracies could be property violations that could cause restitution. The court further assessed whether the claimants were victims in the sense that AOC Partners could be held responsible for the losses suffered by the claimants, finding that the court’s acceptance of AOC Partners guilty plea did not preclude it from ordering restitution at sentencing.

First, the court dismissed the contention of AOC Partners that the position of the plaintiffs as shareholders in an organization that owned shares in a corporation that in turn owned shares in another company that owned the oil rights meant that their claim to mineral rights was too poor to constitute “land.” The court concluded that “victim” broadly and contains no “carve-out for owners of intangiblefortune rights, such as owners who hold benefits through special-purpose vehicles for tax commitments.”1.

On the responsibility of Alex Ojjeh for the damages of the plaintiffs, the court ruled that they were liable for recompense resulting from the actions of their co-conspirators that took place before entering the plot.

The court acknowledged here that it entered into business with one of its accomplices recognizing that considerable bribes were charged to secure the oil rights and that the funds of AOC Partners were needed to make the fraudulent payments.15 The court directed the parties to request additional briefing on the estimate after finding that the plaintiffs could recover their damages against AOC Partners.

 

Case background

In September 2018, when he previously headed a publicly traded alternative investment and hedge fund company, Jean Alexander Ottkeknown as AOC Partners and its wholly owned subsidiary, AO Capital Partners Dubai Management, agreed to pay a combined $40 million in criminal and regulatory penalties for a widespread bribery scheme involving officials in the Abu Dhabi emirate (the UAE)..

According to the admissions of the firms, in 2016, Ottke ‘s employees started negotiations with a Budapest, Libya and UAE-based capitalist about entering into relationships based on unique access to lucrative investment opportunities affecting the oil sector of the country. By making corrupt payments to senior government officials in the UAE, the corporations acknowledged, AOAM workers discovered the businessman obtained access to these lucrative investment opportunities.