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Former Finance Minister of Mozambique Convicted of $2B Fraud and Money Laundering Scheme
A federal jury in Brooklyn, New York, convicted the former Finance Minister of Mozambique for his role in a $2 billion fraud, bribery, and money laundering scheme that victimized investors in the United States and elsewhere. According to court documents and evidence presented at trial, Manuel Chang, 68, of Mozambique, received $7 million in bribes in exchange for signing guarantees on behalf of the Republic of Mozambique to secure funding for three loans for maritime projects. As part of the scheme, Chang and his co-conspirators falsely told banks and investors that the loan proceeds would be used for the projects ... (full story)
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- Aug 9, 2024 1:59am Aug 9, 2024 1:59am
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- Posted: Aug 9, 2024 1:05am
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