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The Independent UK
The Independent UK
National
Philip Marcelo

Mozambique’s ex-finance minister faces sentencing in New York in ‘tuna bonds’ corruption case

Mozambique Corruption Trial - (Copyright 2019 The Associated Press. All rights reserved.)

Mozambique’s former finance minister is set to be sentenced Friday in a New York court on wire fraud and money laundering charges stemming from the infamous “ tuna bond ” scandal that triggered a financial crisis in the impoverished African nation.

Manuel Chang, 69, was convicted last year of accepting payoffs to put his homeland secretly on the hook for about $2 billion in loans from major overseas banks.

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