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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.