A New York court found former Mozambican finance minister Manuel Chang guilty of fraud and money laundering in the $2-billion scandal.
Listen to this article 10 min Listen to this article 10 min Former Mozambican finance minister Manuel Chang was convicted in a Brooklyn, New York court on Thursday, 8 August 2024, for his role in the $2-billion "hidden debts" fraud, bribery and money laundering scheme in his country in 2013 and 2014.
A federal jury found him guilty of one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering. He faces a maximum penalty of 20 years in prison on each count. A federal district court judge will determine his sentence. It is not yet clear if he intends to appeal.
The jury reached its verdict after three weeks of trial and three days of deliberation.
"Today's verdict is an inspiring victory for justice and for the people of Mozambique, who were betrayed by a corrupt high-level public official whose greed and self-interest sold out one of the poorest countries in the world," said Breon Peace, US Attorney for the Eastern District of New York.
"Chang now stands convicted of pocketing millions in bribes to approve projects that ultimately failed, laundering the money and leaving investors and Mozambique stuck with the bill."
Chang's...
