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Mozambique’s former finance minister Manuel Chang to be sentenced in U.S. today
1:13 CAT | 17 Jan 2025
FILE - For illustration purposes only. [File photo: Lusa]
Former Finance Minister Manuel Chang will be sentenced this Friday in Brooklyn, in United States of America (USA), at 11:00 a.m. local time (6:00 p.m. in Mozambique).
Chang was tried in the U.S. on charges of conspiracy to commit fraud in financial transfers and conspiracy to commit money laundering.
“The charges were related to his role in forcing Mozambique to guarantee US$2 billion in loans for the purchase of offshore security and fishing equipment from the Lebanese shipbuilder Privinvest in 2013, as part of a scheme known as the ‘hidden debts’ or ‘tuna bond’ scandal,” Zitamar news agency recalls.
Chang was found guilty of the crimes of which he is accused, on 8 August 2024, by the New York court.
Manuel Chang was initially charged with three crimes, but the charge of conspiracy to commit securities fraud was dropped.
The charges carry the possibility of up to 20 years in prison, though sentencing guidelines for any given case can vary depending on a defendant’s history and other factors.
Chang had pleaded not guilty to the U.S. conspiracy charges. His lawyers said he was doing as his government wished when he signed off on pledges that Mozambique would repay the loans, and that there was no evidence of a financial quid-pro-quo for him.
READ: Manuel Chang may be transferred from the U.S. to Mozambique – if the PGR requests it | Thomashausen
Source: MzNews / AP
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