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Jacob Ostreicher released from Bolivian jail

December 19, 2012 09:53
Jacob Ostreicher (Photo: AP)

By

Sandy Rashty,

Sandy Rashty

1 min read

The Orthodox American businessman who has spent the last 18 months in a Bolivian jail without charge has been released on bail.

Grandfather Jacob Ostreicher, who was accused of allowing his rice farming business to be used as a front for money-laundering for the drugs trade, was ordered to pay more than £8000 in bail money and will remain under house arrest.

The 52-year-old from Brooklyn denies all charges against him.

Congress members Chris Smith and Nydia Velazquez recently travelled to the Palmasola prison and campaigned for Mr Ostreicher’s release. They announced his release on Tuesday.