Mozambique’s Cang sentenced in US court for corruption

Former Mozambican Finance Minister Manuel Chang has been sentenced to an additional two-and-a-half years in prison by a U.S. court for his role in the “tuna bonds” scandal, a multi-billion-dollar corruption scheme that plunged the African nation into financial crisis.   

Chang, who was convicted last year of accepting bribes to facilitate a $2 billion loan, will now serve a total of eight-and-a-half years in prison.   

The loans, intended to finance a tuna fishing fleet and other maritime projects, were secretly guaranteed by the Mozambican government, leading to a significant debt burden for the country.   

Prosecutors argued that Chang pocketed millions in bribes and played a key role in defrauding investors.   

Chang’s lawyers maintained his innocence, arguing that he was merely following government orders.   

The “tuna bonds” scandal has had devastating consequences for Mozambique, plunging millions into poverty and hindering economic development. This sentencing marks a significant step in the ongoing efforts to bring those responsible for this financial crisis to justice.   

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