MOZAMBIQUE FILES CHARGES AGAINST EX-FINANCE MINISTER OVER $2 BILLION DEBT

On 10 November, the Sowetan Live reported that 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.  He has been in custody in South Africa since December 2018 and is being sought both by Mozambique and the US to face prosecution over the loans.  3 former Credit Suisse bankers who helped arrange the loans pleaded guilty in the US earlier this year to conspiracy charges including bribery and fraud.

https://www.sowetanlive.co.za/news/africa/2020-11-10-mozambique-files-charges-against-ex-fin-min-over-2-billion-debt/

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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