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Ex-Mozambique finance minister pleads not guilty in New York over debt scandal

Ex-Mozambique finance minister pleads not guilty in New York over debt scandal

A former Mozambique finance minister pleaded not guilty to U.S. criminal charges over his alleged involvement in a fraud involving $2 billion in loans to three state-owned companies. Manuel Chang entered his plea before U.S. District Judge Nicholas Garaufis in Brooklyn. Chang had been extradited on Wednesday from South Africa, where he was arrested in December 2018 on U.S. charges of conspiring to commit wire fraud, securities fraud and money laundering. Garaufis denied Chang's request for bail, agreeing with prosecutors that he was a flight risk and could escape the charges by entering Mozambique's U.N. mission in Manhattan. "The evidence regarding his…
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“Tuna King” – Mozambique ex- Finance Minister – extradited to US to face trial

“Tuna King” – Mozambique ex- Finance Minister – extradited to US to face trial

MOZAMBIQUE'S former finance minister, Manuel Chang, was extradited to the United States from South Africa to face charges for his alleged role in a $2 billion debt scandal, the South African justice ministry said. Chang, who has denied wrongdoing, had been detained in South Africa since 2018 when he was arrested at the request of the United States on charges including money laundering and conspiracy to commit fraud. Mozambique subsequently also requested his extradition, and the two countries fought over possession of Chang via both the courts and diplomatic channels. South Africa's constitutional court denied Mozambique leave to appeal in…
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Mozambique files charges against ex-finance minister over $2 billion debt

Mozambique files charges against ex-finance minister over $2 billion debt

MOZAMBIQUE has filed provisional embezzlement, money laundering and abuse of office charges against former finance minister Manuel Chang over $2 billion in state-guaranteed debt borrowed during his term in office. Chang has been in custody in South Africa since December 2018, where he is being sought both by Mozambique and the United States to face prosecution over the loans. Three former Credit Suisse bankers who helped arrange the loans pleaded guilty in the United States earlier this year to conspiracy charges including bribery and fraud. South Africa had cited the absence of formal charges in Mozambique as an issue blocking…
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