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Brooklyn Businessman Bailed Out of Bolivian Jail

A Brooklyn businessman with ties to the Jersey shore is released on bail from a Bolivian jail today after languishing there for 18 months on informal money laundering charges.

Jacob Ostreicher
Jacob Ostreicher leaving hearing (

Jacob Ostreicher, drew the attention of 4th District Congressman Chris Smith, who recently returned from Bolivia where a bipartisan delegation lobbied for his release. Last month, ten Bolivian government officials were arrested on charges of corruption for committing extortion against Ostreicher and other Bolivians.

In a press release, Rep. Smith says “The Bolivian Government has taken positive steps, particularly by arresting government officials who were committing extortion against Jacob as well as a number of Bolivians. “But this is only the beginning of the end. Jacob has incurred permanent damage to his health and has lost over 18 precious months of his life with his wife, children and grandchildren. In addition, his life remains at risk every day that he remains in Bolivia, due to credible death threats against him. I urgently call on the Bolivian judicial system to act swiftly to completely exonerate Jacob of the baseless accusations against him and grant him his freedom. And I hope the Bolivian Government continues to follow through on the investigation of and charges against the real criminals in this case, so that other innocent persons do not have to suffer or continue to endure the same fate.”

In August of 2012, Rep Smith introduced “Jacob’s Law” (H.R. 6292). The bill would prohibit the travel of foreign officials and their families’ to the United States if those officials are known to be complicit in violation of fundamental human and due process rights of Americans imprisoned in their home country.

His daughter resides in Lakewood.

Get details at or on a Facebook Page set up on his behalf.

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