Mozambique: Former President Guebuza Mentioned in Boustani Trial

Maputo — For the first time, the name of former Mozambican President Armando Guebuza has appeared in the trial in New York of Jean Boustani, a senior sales executive of the Abu Dhabi-based group Privinvest, who is facing charges arising out of the scandal of Mozambique's "hidden debts".

US prosecutors regard Boustani as a key player in the fraudulent scheme whereby three security-related Mozambican companies, Proindicus, Ematum (Mozambique Tuna Company) and MAM (Mozambique Asset Management) took loans of over two billion US dollars from the banks Credit Suisse and VTB of Russia on the basis of illicit loan guarantees issued by the Guebuza government.

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