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How much financial recovery will Mozambique achieve from the Tuna Bonds scandal by end of 2024?
3
Resolution / Starting Odds
Less than $500 million • 25%
$500 million - $1 billion • 25%
More than $1 billion • 25%
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Official announcements and financial records
Story
Mozambique's Ex-Finance Minister Convicted in U.S. Over $2 Billion Tuna Bonds Fraud
Aug 8, 2024, 09:05 PM
Manuel Chang, the former Finance Minister of Mozambique, has been convicted on Thursday in a U.S. trial for his involvement in a $2 billion fraud scheme known as the 'Tuna Bonds' scandal. The charges included conspiracy to commit wire fraud and money laundering related to loans intended for three state-owned companies in Mozambique's fishing industry. The verdict was announced by U.S. Attorney Peace, who described it as a victory for justice and the people of Mozambique, who were betrayed by Chang's actions.
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Use funds for debt repayment • 25%
Invest in infrastructure • 25%
Allocate to social programs • 25%
Other • 25%
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No • 50%
Less than $500 million • 25%
$500 million to $1 billion • 25%
$1 billion to $1.5 billion • 25%
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Less than 5 crore • 25%
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10 to 20 crore • 25%
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Less than $50 million • 25%
$50 million to $60 million • 25%
$60 million to $70 million • 25%
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50% to 99% • 25%
100% • 25%
Less than $20 billion • 25%
$20 billion to $30 billion • 25%
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No settlement • 25%
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Settlement reached • 25%
No further action • 25%
No wrongdoing found • 25%
Minor violations found • 25%
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Pending investigation • 25%
Yes • 50%
No • 50%
