Mozambique ex-minister guilty of one of Africa’s biggest corruption scandals
Manuel Chang, a former minister in Mozambique, has been found guilty of involvement in a $2 billion “tuna bond” conspiracy that led to an economic crisis in the country ¹. Here are some key points about the case:
– *Chang’s role*: Manuel Chang was the finance minister of Mozambique from 2005 to 2015.
– *The “tuna bond” scandal*: The scandal involved secret loans worth $2 billion taken by Mozambique’s government from international banks, supposedly to fund tuna fishing and shipbuilding projects.
– *Consequences*: The loans were not publicly disclosed, and the projects were not executed. The scandal led to an economic crisis in Mozambique, with the currency plummeting and debt soaring.
– *Investigation and charges*: An international investigation was launched, and Chang was arrested in South Africa in 2019. He was extradited to Mozambique, where he faced charges of corruption, fraud, and money laundering.
– *Guilty verdict*: On August 9, 2024, Chang was found guilty of involvement in the “tuna bond” conspiracy.
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