Manuel Chang will spend eight and a half years in prison for taking about $7 million in bribes and kickbacks in a loan scandal that sent the country’s economy into a crisis.

Mozambique President Daniel Chapo on Friday appointed Carla Louveira as finance minister and Estevão Pale as mineral resources and energy minister. Louveira was the deputy minister of economy and finance from 2020,

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

A former Mozambique finance minister was sentenced to 8 1/2 years in prison by a US judge for his role in a $2 billion bond fraud that ensnared Credit Suisse Group AG and triggered a financial crisis for the African nation.

A U.S. federal judge said Manuel Chang betrayed his country in one of the biggest debt-corruption scandals in Africa.

Former Mozambican finance minister Manuel Chang was sentenced to more than eight years in prison on Friday in connection with a graft scandal that sparked an economic crisis in his home country.