NEW YORK -A former Mozambique finance minister was convicted on Thursday on U.S. criminal charges over his alleged involvement in a fraud involving $2 billion in loans to three state-owned companies to develop the African nation's fishing industry.
The projects eventually collapsed and the state-backed companies defaulted on their loans, leaving investors with millions of dollars in losses. Peace called Chang"a corrupt, high-ranking government official whose greed and self-interest sold out one of the poorest countries in the world." Prosecutors said officials and bankers embezzled $200 million of the $2 billion in financing raised for the projects from 2013 to 2016.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US jury convicts Mozambique’s ex-finance minister Manuel Chang in ‘tuna bonds’ corruption caseA U.S. jury has convicted former Mozambican Finance Minister Manuel Chang in a bribe conspiracy case that welled up from from his country’s “tuna bond” scandal. A federal jury in New York delivered the verdict Thursday.
Source: AP - 🏆 728. / 51 Read more »
US jury convicts Mozambique’s ex-finance minister Manuel Chang in ‘tuna bonds’ corruption caseA U.S. jury has convicted former Mozambican Finance Minister Manuel Chang in a bribe conspiracy case that welled up from from his country’s “tuna bond” scandal.
Source: wjxt4 - 🏆 246. / 63 Read more »
US jury convicts Mozambique’s ex-finance minister Manuel Chang in ‘tuna bonds’ corruption caseNEW YORK (AP) — Former Mozambican Finance Minister Manuel Chang was convicted Thursday in a bribe conspiracy case that welled up from from his country's “
Source: Mynorthwest - 🏆 438. / 53 Read more »
US jury convicts Mozambique’s ex-finance minister Manuel Chang in ‘tuna bonds’ corruption caseA U.S. jury has convicted former Mozambican Finance Minister Manuel Chang in a bribe conspiracy case that welled up from from his country’s “tuna bond” scandal.
Source: ksatnews - 🏆 442. / 53 Read more »
US jury convicts Mozambique’s ex-finance minister Manuel Chang in ‘tuna bonds’ corruption caseA U.S. jury has convicted former Mozambican Finance Minister Manuel Chang in a bribe conspiracy case that welled up from from his country’s “tuna bond” scandal.
Source: KPRC2 - 🏆 80. / 68 Read more »