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NEWS: Mozambique ex-finance minister sentenced in US to 8.5 years in prison over ‘tuna bonds’ scandal

Mozambique's former finance minister Manuel Chang appears in court during an extradition hearing in Johannesburg, South Africa, January 8, 2019. REUTERS/Shafiek Tassiem/File Photo

By Luc Cohen

A FORMER Mozambique finance minister has been sentenced to eight 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 marine infrastructure.

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.

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