Former Mozambique’s finance minister was sentenced on Friday (17 Jan) to 8 and a half years in prison after being found guilty of participating in a fraud involving $2 billion in loans to three state-owned companies to develop the southern African country’s fishing industry. Manuel Chang, 69, was convicted in August by a Brooklyn jury of conspiracy to commit wire fraud and conspiracy to commit money laundering in the “tuna bonds” case, following a four-week trial.
U.S. District Judge Nicholas Garaufis imposed the sentence. The judge said he would recommend Chang be credited for the approximately six years he had been in custody awaiting trial, meaning he would be eligible to be released from U.S. prison and deported to Mozambique after 2-1/2 years.
(Source Reuters)
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