Mozambique: 'Hidden Debts' Suspect Was Talking to FBI

Maputo — One of the key suspects in the case of Mozambique's "hidden debts" has been cooperating with the United States Federal Bureau of Investigation (FBI) since January.

The term "hidden debts" refers to the fraudulent scheme whereby three security-linked companies, Ematum (Mozambique Tuna Company), Proindicus and MAM (Mozambique Asset Management) were set up, which then borrowed over two billion US dollars from the banks Credit Suisse and VTB of Russia in 2013-2014. Key to the fraud were illicit government loan guarantees mostly signed by the then finance minister, Manuel Chang.

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